Mark Bouris

We all know Mark Bouris, the face of The Apprentice Australia TV show and founder of Yellow Brick Road.

Here at Trade Risk we already know the benefits of using an insurance broker when starting a new business, and now Mr Bouris has offered his advice to a new landscaping business.

In a regular question and answer column in the Sydney Morning Herald, Mr Bouris championed the use of insurance brokers.

Insurance for a new Landscaping Business

The question came from a tradie looking to start a landscaping business. He didn’t provide a name, but we’ll call him Scott.

Scott said there would be two other people working for him (although he didn’t state whether they would be employees or subcontractors) and they would be doing mostly residential landscaping and gardening.

As with many tradies, Scott felt that some forms of insurance were a waste of money, and basically he wanted to know which types of insurance he would need.

The Bouris Response

Mr Bouris’s initial response was to recommend that Scott, or anyone else starting a new business, should use the services of an insurance broker.

Landscapers Insurance

He also provided some great information regarding insurance for tradesmen:

“When you have clients and you employ people, you have taken on liabilities that you must protect against.”

Mr Bouris then went into more detail:

“These liabilities fall into three main categories:

1. Damage caused by you or your employees, which may create legal claims against your business.

 

2. Injuries or death suffered by you or your employees, such that income to the business is affected and replacement income for the affected people is required.

3. Damage to business plant and machinery that must be replaced and may cause income-interruption before they can be replaced.”

He also pointed out that some forms of insurance are mandatory, whilst others are not:

“Some insurances – such as workers’ compensation cover – are compulsory. But as you have indicated, most business insurance packages offered in a retail format contain coverage you may not need and exclusions that leave you exposed.”

Mr Bouris finished by pointing out the benefits for a landscaper (or any other tradesman) in using a specialist insurance broker:

“There’s also a question of what premiums you should pay for insurance. There’s no reason why a landscape contractor would also be an expert in business insurance coverage. But a broker ensures you have all your insurances, at the best market price.”

You can check out the full response by clicking here for the original SMH article.

Our Thoughts

We couldn’t really agree more with what Mr Bouris had to say to Scott. The gist of what he said can be broken down into a couple of simple points:

  • As a business owner you have important liabilities to protect against
  • Some forms of insurance are mandatory, whilst others are not
  • Some policies will include cover you don’t need
  • Some policies will have exclusions that leave you exposed
  • Using a broker ensures you are properly covered at a good price

At Trade Risk we specialise in insurance for tradespeople, so we know which covers you need and which covers you don’t need, and we know where to get the most competitive premiums for you.

We also know about the exclusions that Mr Bouris refers to, and that’s why we ask you plenty of questions before giving you a quote. This allows us to find a policy that is going to give you all the cover your business needs without being left exposed.

So thanks to Mark Bouris for pointing another tradie in the right direction! Hopefully he’ll find his way to Trade Risk and we’ll be more than happy to help him out.

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