Let’s face it, being a sought-after professional tradesman whilst running a business is hard work. You’re juggling being a skilled tradie, delivering on time (on often impossible deadlines) whilst making sure that your books are balancing, bills are paid and these days, that your business quite simply remains in business. In this post, TradeSure: Useful Tips for Tradesmen, we provide some tips to help relieve the pressure.
Day to day, Insurance, whilst entirely necessary can be just another headache for tradesmen. Fortunately, skilled professionals are available who can partner with you and your business. That’s because these partners will take a long-term approach and actively become one of your business’s key building blocks. A team who can help you assess risks and get you the cover you need.
Top Tip – Police have urged tradesmen to have their driver’s licence number engraved on all tools of their trade and to record all serial numbers and where possible keep all items under lock and key.
A good tradie is a busy one. So as professionals pushed for time while searching for that work life balance, you need answers to problems and better solutions. This will keep things simpler and ultimately more customised to your needs than ever before. “Spending my day looking for the right insurance is a great use of my time”. Said no one ever!
To help make it a little easier, here are a few TradeSure useful tradie tips you should consider when thinking about your business and possible risks:
NEEDS: Do you have enough insurance, or the right type of insurance?
RISKS: Have you assessed the real risk exposure for your business and how this can be managed?
BUDGET: What would it cost you if your tools were stolen? How about your ute? What if your employee was injured on the job? Can you afford not to insure for this?
MITIGATION: What steps are you taking to protect your business from incidents?
VISIBILITY: When was the last time you reviewed your insurance, and do you know if you’re covered for every eventuality?
THIRD PARTIES: Which third parties do you work with and is this covered by your insurance?
My tools are gone … now what?
Getting cover in place with a professional who’ll be there to help you, especially when the worst happens, can make all the difference to getting your day, week and month back on track. We know life doesn’t always deliver and that where there’s a will there’s a way for someone intent on targeting your goods no matter how concrete your planning may be.
Top Tip – When you need cover or claims assistance, you need it now. Not all insurance companies assign a broking team to you specifically. Do your homework carefully – you’ll need a team on standby, not just palming you off to a call centre.
Tradie time IS money
Clearly the time is now for tradies as the housing boom and demand for skilled professionals is on the up. Ministry of Business, Industry and Employment’s (MBIE) Anna Clark said in a recent Stuff article, that the demand in this industry for jobs would rise to 11 per cent over eight years, settling on a figure of 56,000 workers needed in the industry by 2022.
It’s no wonder trades insurance is advertised everywhere. Don’t get caught out by online offers that promise low premiums without the cover or care you need – work with professionals, who understand your industry, after all there’s a reason they’ve been providing services to tradies for over 30 years.
Not sure if a TradeSure solution from Runacres Insurance can meet your needs? Contact Courtney, our industry specialist today, to receive an obligation free risk assessment.