Underground service locators and concrete scanners face some unique risks and require specialised business insurance.
We understand these risks, and can help to put together a business insurance package that properly protects your business.
For a quote on your insurance please click the button below or call us on 1800 808 800. Or continue scrolling to check out our guide.
There are some trade and service businesses that can jump online and buy a ‘cheap’ business insurance policy.
If you’re performing underground location services or concrete scanning, you probably don’t fall into that category!
There are serious consequences if you get someone wrong in your job, and you need the right insurance in place to protect you if things do go wrong.
Whilst many of the insurance types that a location services business requires are similar to other trades and services businesses, there are some key differences.
We’ll now run through some of the typical insurance types required. These can include:
- Public liability insurance
- Professional indemnity insurance
- Tool insurance
- Personal accident insurance
There are a number of others that may be necessary depending on the size and complexity of your business, but these are some of the most common.
We strongly recommend speaking with one of our experience insurance brokers to get a better understanding of the insurance needs of your specific business.
Public liability insurance
For most business types, public liability insurance is the most common and arguably most important.
This form of insurance will protect your business in the event that you cause property damage or personal injury to another person.
For a concrete scanning business, it could be as simple as leaving your equipment across a public footpath in a manner that is considered negligent, and a member of the public trips over it and injures themselves.
Whilst public liability insurance is not required by law for a location services business, you’ll often find that companies you contract to will require it.
Professional indemnity insurance
Whilst public liability insurance is more about physical loss or damage, professional indemnity is all about the advice and reports you provide to clients.
Regardless of what disclaimers and waivers that you might have clients sign, you can still find yourself in legal trouble if you have provided advice or reports that are found to be negligent.
Professional indemnity insurance can cover legal defence costs, as well as the costs awarded if you are found to have acted negligently in providing the advice or reports.
All professionals do their very best to provide the most accurate advice and reports possible, but mistakes can happen, and it’s vital to have the right insurance in place if and when that happens.
Tool insurance
Concrete scanners can cost anywhere from a few grand to tens of thousands of dollars.
Given that a single piece of equipment could be worth more than your vehicle, it’s a no-brainer to insure your equipment.
Tool insurance – also known as general property insurance – can cover your scanning and locating equipment, along with any other gear needed for your work.
Personal accident insurance
If you’re self-employed, you should also consider personal accident insurance.
You can’t be locating pipes and cables from your bed or couch. You need to be out on location doing the physical work.
Personal accident insurance can replace a large portion of your income whilst your unable to work due to injury or (optional) illness.
There are plenty of different options available with personal accident insurance, so we recommend speaking with one of our brokers.
Other insurance types
Whilst these are some of the most common forms of insurance for an underground locating or concrete scanning business, there are plenty more to consider.
Some of these include:
- Errors and omissions insurance
- Management liability insurance
- Commercial motor insurance
- Property owners insurance
Which ones you need will generally depend on the size and complexity of your business.
Using an insurance broker
Here at Trade Risk we’ve been offering insurance broking services to concrete scanners and underground locators for over a decade.
As insurance brokers we have access to a wide range of insurance companies and specialist underwriting agencies to ensure you have the right protection at a competitive price.
We can help to recommend the right policies you should have, and find the insurers that will offer us the best prices and claims experience.
We’re also here for you at claim time to help ensure that any claim runs smoothly. We’ll be with you every step of the way so it’s never just you verse the insurance company.
Next steps
To learn more about how Trade Risk can help your business, we recommend an obligation free chat with one of our specialist insurance brokers.
You can call our office on 1800 808 800, or complete our online quote request form that will give our brokers enough information to get started on some quotes.
We’re obsessed with offering market leading service and advice to businesses in the trades and services industries, regardless of whether you’re a one-man-band or a national operation.
Call us today or complete our online form to see why thousands of businesses from around Australia trust Trade Risk with their business insurance.
