fbpx

As a self-employed tradie, why would you bother using an insurance broker?

Your business is fairly straightforward, you can get quotes from most insurance companies online, and why pay extra fees to a middle-man, right?

Not so fast!

Just like you’d never recommend that your customers DIY their building work, there are good reasons not to DIY your business insurance.

In this guide we’ll look at a few of the myths around using an insurance broker, and why it’s a good idea for any trade business, even if you’re just starting out.

Note:  This guide is more targeted at the smaller 1-5 staff trade businesses.  Larger trade businesses are generally well aware of the benefits of using an insurance broker.

What will an insurance broker do for me?

The short answer is…  They’ll save you time and money!

But there’s a lot more to it.

At the quote stage

For starters, a broker will have a chat to you about exactly what it is your trade business does.

You might consider yourself a typical electrician, but when we did a little deeper we might find business activities that fall outside of what most insurance companies consider normal for an electrician.

We can then make sure we place your cover with an insurance company or underwriting agency that will agree to cover those activities.

What does it matter?  Well if you have a standard electrician policy and need to make a claim for an activity that falls outside of the insurer’s standard activities, you could find that your claim is declined.

Once we know which insurers are going to be right for you, we can compare premiums to get the most competitive quotes for you.

So not only are we looking to get you the lowest insurance cost, but most importantly the lowest cost for a policy that will properly meet your needs.

During the year

There are so many potential benefits during the year, but the one that is most relevant to most tradies is that you don’t have to deal with a cell centre.

Every Trade Risk client, no matter how small in size, has their own designated account manager.  If you need anything at all, you can call or email your account manager and know that you’ll be looked after.

This save you time by not having to wait in a call centre queue, and gives you the confidence that you’re dealing with a local expert every time and not potentially an outsourced call centre.

Electrician insurance review

Claims

This really falls into the “during the year” category, but is so important that it deserves its own category.

There are multiple benefits as a tradie having an insurance broker at the time of a claim – especially a trade insurance broker.

We’re on your side

If you purchase your business insurance direct through an insurance company, in the event of a claim it’s you against them.

Of course they have to do the right thing, and in most cases it will probably be all okay, but if things get a little grey they’re going to be on their own side, not your side.

When you use a broker, you have an expert on your side.  Although we have great relationships with the insurance companies, we always on your side and will fight for the best outcome for you.

We could give numerous examples of where we have fought against an insurance company because we weren’t happy with their claim offer, and have secured a better result for our client.

Carpenter insurance review

We’re experts in the trade

Talking more specifically about Trade Risk rather than general insurance brokers, our other big advantage is that we only deal with tradies.

We’ve dealt with hundreds of claims for electricians, carpenters and plenty of other trades.

Of course we don’t know how to build a deck or install solar panels, but we know how to deal with the typical claims that come from these activities.

Our higher level of understanding when it comes to trade businesses and our greater level of experience with trade related claims enabled us to fight for the best outcome for you.

How much extra does it cost for a tradie to use an insurance broker?

One of our first jobs as your insurance broker is to find you the most competitive premium for cover which is appropriate for your business.

So if we can find you a more competitive premium than anyone else, including the direct insurers, then we’re actually saving you money rather than costing you more!

There’s also the time – and therefore money – that we can save you by doing the running around for you.

You might be able to spend half a day getting quotes and researching policies to save an extra $50, but how much has that time cost you?  A couple of hundred if it’s stopping you from doing what makes you money.

Of course you could do it much more quickly, but then you’re just comparing prices and not comparing the policies.  What happens when you have a claim declined because the policy wasn’t right for your business activities?  Is that worth risking your home over if you get it really wrong?

Because we’re experts in the trade industry we can find you competitive rates much more quickly, and you can have the peace of mind knowing that we’ve recommended the right policy for you.

Is it worth it for a one-personal trade business?

You might think that your trade business only needs an insurance broker once it has grown a little larger.

Afterall, why would a one-man business need an insurance broker when you can just buy a cheap policy online through one of the direct insurance companies?

Whilst we do look after trade businesses with multi-million dollar revenues, the majority of our 4,000+ clients are actually sole traders.

That’s right.  Sole traders.  We look after thousands of sole traders and one-person companies, and many of them have been clients for years and years.

They stick with us because they know how we can save them time and money, and they know that when things go wrong they won’t be on their own – they’ll have the Trade Risk team fighting in their corner.

So no matter how small or large your trade business is, we would say it is absolutely worth having a good insurance broker, and especially one that specialises in trade insurance.

10 Years in Business

How to get started

The best way to get started is to simply talk with us.

If you have no more than five staff and only need public liability and tool insurance, we can help you online.  You can receive an instant online quote and purchase your policy fully online.

If you’d rather speak with a real person we can do that too.  Simply call us on 1800 808 800 and our team will be here to help.

For larger trade businesses with more complex needs our team of insurance brokers can assist in a variety of ways.  We look after most of our clients via phone and email, or if you’re local to Brisbane we can visit you or you can come to our office.

We are passionate about helping business owners with their trade insurance needs, and like most of our clients we are also a 100% family owned Australian business.

Get in touch with us to see how we can help you.

Tradie Insurance Brokers

Tradies Love Trade Risk

In 2020 Trade Risk was awarded the Platinum Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

  • testimonial background
    "good follow up service"
    Classic Contracting Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Took weeks to get back to me. My insurance lapsed and as a result I was unlicensed for 4 days."
    Mikael Erik Amberntsson | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Jennifer from Trade Risk is always happy to help and very prompt in replying to queries and concerns. Trade Risk takes the hassle out of insurance and makes sure the cover I need is the cover I get."
    Luke | Trade Insurance - Renewal | Snowy Monaro NSW
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Excellent service. Keshia was very helpful and easy to deal with. I would continue dealing with Trade Risk again"
    Jawo Wollaston | Trade Insurance - Renewal | Pioneer
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Happy with the competitive price. Was an increase from last year but that's common."
    Samford Valley Plumbing Service Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "No comment"
    Reynolds Family Trust | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Would recommend them. Great service and prompt follow up to enquiries."
    Riddells Creek Roofing Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "When insurance comes up in conversation I always tell about who I am with and why."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Timely and easy to organise."
    Anthony Walford Thyer | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "It took nearly a month to have our renewal finalised. Our broker never responded to our emails or our phone calls, and there was no communication in regard to a required amendment to our renewal proposal. This resulted in a premium much higher than what we were originally paying. Considering the lack of communication and that it took a week for anyone to even action our request, and that our renewal was not finalised 2 days out from its due date, I sincerely doubt that our broker bothered or attempted to negotiate with the insurer or find us the best deal."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Great service friendly easy renewal of my policy"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "This was a renewal for us and they helped us not only with reminders, but they send a questionnaire about our current policy needs and came up with a policy that suited our changing business."
    Airlie Aluminium Marine Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Quick and efficient Attended my query and needs immediately"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Great customer service agent"
    C.M Friend & P.J Friend | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "We have been using Trade Risk for years. They make it easy and it is good value."
    P & J Building & Home Maintenance Services Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Very easy to deal with 👍🏿"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "They provided prompt information and quotes and I found them very easy to deal with."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Service was good, but not the premium"
    David Mathew Zemunik | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
Loading...