Business Insurance for Plasterers*
Plasterers need business insurance, including public liability insurance as plastering is high liability work, with accidents possible on site.
People and property on site may be hurt or damaged due to accidents involving plastering work.
Plastering work involving the use of mixers and pumps is particularly risky, and result in many claims against plasterers for property damage or personal injury.
Fortunately, suitable business insurance for plasterers may provide protection against financial hardships that could arise from accidents, property damage, or legal claims caused by your plastering business activities.
Plasterer business and public liability insurance may cover property damage, injuries to third parties that are caused by your plastering equipment and work activities.
What Insurance Do I Need as a Plasterer?*
Some of the major types of business insurance covers available to plasterers in Australia are explained below and include:
- Public Liability Insurance
- Business Insurance Pack
- Personal Accident Insurance
- General Property and Tools
- Commercial Motor insurance
- Plant and Equipment Insurance
Why do plasterers need public liability insurance?*
Public Liability Insurance coverage is essential for all self-employed plasterers.
Plasterers need public liability insurance as plastering involves working with a range of tools and materials that increase the probability of an accident on site.
People and property on site may be hurt or damaged due to accidents involving plastering work.
The constant presence of materials such as prefab, mortar, prefab plaster, render, cement, concrete quartz containing epoxy resin, flooring and sealing compounds, gypsum and granulates means plastering work involves risks.
Protections offered to self-employed plasterers by public liability insurance in Australia generally include:
- Injury to other persons due to your plastering activities –Where a plasterers business activity causes harm to a third-party person. For example, a client ignores your warnings to stay away from the site and injure themselves when they trip and fall on your equipment.
- Damage to others property due to your plastering activities – Where a plasterers business activity causes damages to a third- party’s property. For example, a plasterer may accidently cause damage in a client’s home while performing work.
- Harm to other persons or other persons property due to your plastering business’s products – Where a plasterers business’s products and goods supplied causes harm to a third party -person or a third- party’s property. For example, products a plasterer has supplied, repaired, or manufactured cause harm, injure someone or cause property damage.
Public liability insurance coverage may protect plasterers from claims that arise when others allege, they are negligent.
A plasterer’s public liability policy may provide a defence against the ensuing lawsuit when needed and may pay the damages sought by the injured party.
Business insurance pack for plasterers*
Plasterers may be able to combine multiple covers in a single business insurance pack policy.
By ‘packaging’ your business insurance into a ‘business pack’ plasterers can potentially cover many of the risks their business faces in the one policy.
For example, if a plasterer has a commercial premises, a business insurance pack may provide cover for buildings and contents if they are accidentally damaged by a defined event, such as fire, storm, impact damage, accidental damage, vandalism, or malicious damage.
Other typical inclusions for plasterers with a business insurance pack are Public Liability Insurance and Product Liability Insurance.
Optional inclusions for plasterers with a business insurance pack are General Property, Contents, Machinery, Plant and Stock , Glass, Money , Business Interruption and Marine Cover.
Personal Accident Insurance for self-employed plasterers*
As a self-employed plasterer your personal safety is your livelihood.
Personal accident insurance for plasterers may provide cover for 52 or 104 weeks and up to 85%* of weekly income at the time of the injury; depending on the amount of coverage agreed when the policy is taken out.
Time away from work from an accident will have a direct impact on a self-employed plasterer’s income, and a long period away can negatively affect their savings, family, and lifestyle.
Personal Accident Insurance may help self-employed plasterers pay for essential bills and other financial commitments if they have an accident.
General Property and Tools Insurance for plasterers*
As a plasterer, you are likely to have many tools and equipment that allow you to do your job, such as plastering trowels, plastering hawks, bucket trowels, corner trowels, spatula, and power mixers.
If your property is damaged or stolen, your business cannot operate effectively.
General property insurance can help you keep operating effectively.
It can provide needed funds to replace your tools such as plastering trowels, plastering hawks, bucket trowels, corner trowels, spatula, and power mixers….and help keep you in business.
Commercial motor insurance for self-employed plasterers*
Commercial motor insurance should be considered for plasterers that drive their vehicle from site to site. Light trucks, vans and Utes may be covered.
Plant & Equipment Insurance for plastering businesses*
Plant & Equipment Insurance may provide cover for owners of small plastering businesses that operate equipment such as Mixing Pumps, Conveying Pumps, Power Mixes, Trailers and Forklifts.
Cover may provide plasterers with protection for theft, damage, consequential loss, liability, road risk and machinery breakdown.
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What are the costs of Plasterer Public Liability Insurance?*
How much does public liability insurance cost for self-employed Plasterers?*
Key factors in determining how much Public Liability insurance will cost a plasterer include:
- The nature and scope of the plastering business. For example, the type of work performed by the plasterer.
- The plastering business turnover and size. For example, is the plasterer a sole trader that does 100% of the work themselves, or do they employee a team of 3 subbies?
- Amount of insurance cover the plastering business needs. Liability starts with $5 million cover, $10 million is popular with many self-employed contractors, $20 million cover is needed for plasterers that work for large companies, on commercial sites or have a team of employees.
Public liability insurance cost for a self-employed plasterer with no previous claims, starts from around $650* or $60 per month for $5 million Public Liability Insurance.
*** Please note ***: While cheap Public Liability Insurance can seem attractive on the surface it is important to ensure the policy covers you for the full business activities you undertake, and that the insurance policy and company will respond as intended when there is a claim. Costs may differ greatly from the above based on the plastering business size, clients, experience, and business activities. For many plasterers, that perform broader building work or that have employees, costs will be a lot higher.
Do I need business insurance to work as a self-employed plasterer in Australia?*
Self-employed plasterers, or plastering small business owners, subcontracting for builders will typically be required by the builder to obtain their own public liability insurance to get on site. This is typical for trade contractors working for builders throughout Australia.
Many small business owners, and even retail clients, will also ask to see proof of a plasterer’s insurance cover, called a certificate of currency, prior to awarding them work and ask for an update each year.
As a self-employed plasterer, suitable business insurance may provide credibility and valuable protection against the cost of a claim too.
Key plastering activities that may be able to be covered include:*
Application and fixing of :
– composite wall linings
Why do plasterers need tools insurance?*
Plasterers need tool insurance as tools are the lifeblood of plasterers.
They help plasterers just like you to complete work on time, and to deliver quality workmanship.
Plasterers have a large number of tools compared to many other trades. And good tools are expensive. If they break or are stolen, it can impact your ability to get the job done or cost you thousands to replace.
Without tool insurance, you may have to dig into your own savings or borrow money to get the tools replaced or repaired.
Why should plasterers use an insurance broker in Australia?*
If you are a plasterer deciding on whether to use an insurance broker for your business insurance, it is important to consider that brokers act in the interests of the self-employed plasterer.
Direct insurers and agents act for the insurer. This can be important; especially if you need to claim.
Brokers can help plasterers by sourcing competitive quotes on policy inception, negotiate with the insurance companies to prevent or limit increases on renewal, remarket your policy to other suitable insurance companies where appropriate, talk to underwriters about policy wordings, industry classifications and terms, talk to insurance assessors during the claims process and repairers where necessary.
How do I get a plasterer insurance quote?*
Simply TALK to a SMART Business Insurance broker on 1300 542 573 or contact us online for suitable and affordable public liability and business insurance quotes for your plastering business.