5 Simple Ways to Save Money On Tradie InsuranceMargin Media
Comprehensive tradie insurance is essential to every trade business and contractor… but that doesn’t mean it’s always cheap.
Paying too much on your tradie insurance is going to have a huge impact on your finances. That’s why you want to do everything you can to make sure you are paying the right amount for your cover.
Here’s what we suggest to get your tradie insurance expenses down:
1. Package Your Policies
If you have multiple policies, it may be in your best interest to combine them.
Most tradies will need different policies to cover them, the most common ones being public liability insurance, tools insurance and income protection.
Having these policies with multiple different insurers can actually cost you more. You can save money by taking advantage of insurance package deals.
Check out our trade insurance packages to see what insurance your trade type requires.
2. Don’t Go Straight to The Big Insurers
Most tradies assume that going to the big brand companies will save them money.
For trade insurance, this is a common misconception.
Make sure you extend your insurance search out to the insurance businesses that specialise in trade insurance. They can help you find the best insurance at a competitive price to suit your needs.
3. Get Your Risks Assessed
Having your risks assessed by an insurance expert is one of the best ways to avoid paying too much for your insurance.
If you assume that all policies apply to your work, you run the risk of being overinsured.
By having an industry specialist assess what policies you actually need, you can avoid paying for the things that you don’t require.
4. Update Your Details Regularly
Once you have an insurance policy, the best way you can continue to ensure that you’re paying the right amount is to regularly update your details to ensure your policy reflects your current business circumstances.
If your activities change, for example, you now use fewer subcontractors or your business shrinks, your insurance policies can be adjusted which can save you money.
5. Use An Insurance Broker
The most effective way to save money on your tradie insurance is to use an experienced trade insurance broker.
At Tradesure, our insurance brokers have decades of industry experience and will help you to find the policy that suits your needs at the best price.
We’ll shop around for you, get everything you need in order, and go in to bat for you when it comes time to make a claim. With a qualified insurance broker, you will save on time, stress AND money!
Contact us today to get insured.