Protect Your Woodwork Joinery Sector Business With Tailored Insurance

Joinery can be a risky business.

Timber joinery is a specialised industry, providing critical windows and doors, flooring, cabinetry and much more for buildings and homes across New Zealand. Although it often flies under the radar, the joinery sector holds an important place in the world of both domestic and commercial construction. Producing quality timber joinery is no simple task, requiring specialised machinery and woodworking tools as well as human skill and craftsmanship.

Risks associated with joinery

Making timber joinery involves an array of woodworking practices and equipment. As in any such setting, there are risks involved that can be mitigated with the use of safety equipment, training, and safe conduct. The primary concerns for anyone working in joinery include:

● Fire. In a workshop situation, fire is a primary risk due to the machinery and electronics in close quarters with a lot of wood (fuel). Insurers receive many fire-related claims each year from this industry.
● Workplace injury. This is a concern for anyone in joinery or similar industries. Making joinery involves the use of complex machinery, tools, and equipment. While safety measures greatly reduce the risks, no person or machine is infallible.
● Burglary. This is a risk that just about any person or company takes on when they own property, and woodworking equipment is costly and time-consuming to replace.

Insurance options for the joinery sector

Businesses will find they need a combination of different covers to be, well, covered. These are some of the most important insurances for woodworking joinery companies.

Liability

While ACC in New Zealand does cover the majority of workplace injury claims, there are some cases in which an employee’s injury can incur costs to a business. For example, if there is a serious workplace incident the business as a whole may be required to shut down for several days resulting in loss of revenue, due to an OSH investigation. In these cases, having a relevant insurance policy to pay out the loss is a huge relief to business owners, as well as the potential day-to-day liabilities of employing staff and running a business.

Liability insurance will also cover any costs accrued by employees or products causing third-party damage. This is further protection for joinery businesses against the expenses that come with accidents of many kinds.

Buildings, Plant and Equipment, and Stock

It’s important for any company to ensure their assets are accounted for with adequate insurance cover in case of damage or destruction—by fire, as an example. This includes any premises, all equipment and machinery, and all other contents such as any stock kept at the place of business. For a woodworking company, stock may mean crucial supplies of wood, hardware, and other components.

Business Interruption

A fantastic safety net for any business, this cover will minimise the financial impact of any insured interruption to your usual operations through a variety of circumstances outside of your control. If, for example, you did experience a workshop fire, business interruption insurance would mean that you would be covered for loss of income or temporary premises.

Motor Vehicle

Company vehicles are essential in many industries. Woodworking businesses rely on vehicles to transport materials and finished products—among other things—making commercial vehicle insurance just as important as policies for personal vehicles. Any business with vehicles as a crucial part of operations should have cover that will pay for damage or theft as well as third-party cover in case an employee is at fault in an accident.

The insurance broker advantage

As experienced insurance brokers and members of the NZbrokers national group, Runacres can find and tailor relevant insurance packages for specialist businesses including those in the joinery trade. No insurance solution fits everyone, a fact of which our team is well aware. We use local knowledge, industry experience and our connections with insurance providers large and small to ensure that our clients are getting cover that fits their needs.

For woodworking and joinery businesses, having the best insurance cover can mean the difference between shutting down when struck by difficulties and coming out the other side intact. Runacres Insurance has the expertise in this specialist sector to ensure that our clients’ stock, tools, machinery, and business continuity are protected. Get in touch with the team to discuss a package that will see your joinery business through the unexpected.


Mobile Plant Cover Protects Your Construction Business—Here’s How

The “what” and “why” of mobile plant insurance

From huge and heavy cranes to simple elevated work platforms or humble tractors, mobile plant equipment and machinery is a crucial part of the work a construction company or farming business does. If it breaks down, is damaged, or is stolen, operations can grind to a halt. This costs a lot of money beyond just the price of replacing the equipment—which itself is very expensive.

The ability to finish contracts on time and on budget is crucial to any construction company. For those in agriculture, timetables can be at the whim of mother nature and having all hands on deck with equipment ready to go is vital for optimum profit. Being prepared for any eventuality or bump in the road will mean that you can carry on and get the job done.

What is mobile plant insurance?

Mobile plant cover is a type of insurance available to civil construction businesses and other relevant industries like agriculture. The term “mobile plant” refers to any plant (an onsite/transportable piece of equipment) with some form of self-propulsion which is usually controlled by a human operator—and one that is commonly taken off the company’s own property to carry out work on other job sites. This includes earthmoving machinery, cranes, hoists, forklifts, compactors, agricultural equipment, and more.

Policies are tailored specifically to cover mobile plant-related activity in just about any situation. A comprehensive cover will protect you against damage to your plant, as well as legal liabilities to third parties, whilst accounting for the many different activities and risks undertaken by your hardworking equipment.

For smart construction companies, mobile plant insurance is a vital piece of the insurance puzzle that will help ensure your projects and contracts can continue to completion, safeguarding your profit and your reputation. For farmers and growers, mobile plant insurance could mean the difference between getting a crop in on time and missing the window for harvest due to equipment failure.

What can it cover?

Good mobile plant insurance can be tailored to provide protection in a range of situations and for all kinds of machinery. Not only can it cover mobile plant and equipment that the company owns, but also that which has been rented or hired—offering peace of mind in both scenarios. It includes assets ranging from general work vehicles to the most sizable of machinery such as cranes and diggers.

Policies can also be tailored to cover a range of scenarios including breakdown, theft, damage, road incidents, and more. Good mobile plant insurance applies on any job site and also in transit, meaning that owners and renters of equipment are covered no matter where they are.

Many policies will not only protect against costs directly associated with damage to the equipment, but can also be extended to provide loss of use cover whilst repairs are underway.

How to get the best mobile plant cover

It can be tricky to think of all the possible risks associated with mobile plant and equipment. It’s even harder for your typical business owner to discern where to go for the best, most affordable, and most relevant insurance options. As the nation’s housing shortage necessitates quick and quality builds, construction companies are busier than ever and the ability to deliver on schedule is hugely important. The right cover will safeguard your reputation and enable quality, timely work even when something goes wrong with your equipment, wherever it might be.

Insurance brokers are professionals trained in locating and recommending insurance options that best fit the needs of their clients. The team at Runacres Insurance is experienced in risk assessment and knowledgeable about many specialist industries. This allows them to find and tailor the very best mobile plant insurance to safeguard the valuable equipment that drives your business.

As award-winning brokers operating throughout the nation and backed by the power of the NZbrokers body, we can offer expertise that will see contractors and farmers all over New Zealand more secure. One size does not fit all when it comes to insurance cover, so get in touch to find out how you can best protect your productivity.