Australia is experiencing increasing skill shortages, with trade occupations’ notching the highest demand. Chances are your tradie business has been run off its feet in your quest to meet demand.

When’s the last time you reviewed your insurance policies to make sure you’ve got the appropriate cover and are saving as much as possible?

Here are some prompts to get you on the right track, and it’s not just about going for the lowest quote.

Pay yearly instead of monthly

Paying your premiums annually rather than monthly usually helps you save. As well, insurance companies give notice of increases, so it makes sense to pay the yearly amount just before that higher fee kicks in.

For commercial or business insurance, you can also choose to take advantage of premium funding. This means your business can pay your insurance premiums in easy to manage monthly instalments.

Choose a package over individual policies

As a tradie, you’ll have compulsory and opt-in insurances on your list, so they can all add up. Rather than take out separate policies, you can package them. Doing so usually earns you a discount, so you’ll pay less overall.

Let us know if business changes

Is your current cover the perfect fit for your business operations? Look at the policy exclusions and limits for each type of cover – do they sound right to you? We can help guide you through the fine detail.

Have the right levels of cover

What size projects or jobs are you working on? Will the previous cover you had be enough or are you now paying too much for cover you don’t need?  A lower premium does not necessarily mean you’ll have lower protection. It’s about finding that sweet spot between insurance limits, exclusions, etc. and the cover you require.

We can help

The best way to save money or, more importantly, ensure you have adequate cover at the best price is to take advantage of our expertise. We have deep insights into the complex nature of business insurance. That means we can properly analyse your business, profile and appetite for risk and draw on our knowledge to customise an insurance package that should not only save you money, but ensure you’re appropriately covered. We aim to help you protect your business when the unexpected happens.

If you would like to know more about having the right cover for your trade business, please CLICK HERE or contact us for more information.