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Trade Check List 

Here are ten things to think about when it comes to covering your trade business:

  1. Do you own or run a small or medium sized business?
    Don’t just rely on extending your personal insurance. It may not give your business the type or level of cover you expect or need.

  2. When was the last time you reviewed your business insurance?
    A lot can change during the year like taking on new staff, getting new contracts or purchasing new tools and equipment. So it’s always a good idea to review your policy and check you’re covered. Also it never hurts to shop around and check you’re still getting a good deal.

  3. Do you use your tools in more than one location?
    If you do, then make sure your tools are covered anywhere in New Zealand. It is also worthwhile checking to see whether your tools are covered whilst they are locked in your vehicle. Not all policies offer this level of cover.

  4. How important are high quality tools to you?
    If you can’t work without your tools check to see if your current policy covers your tools for their replacement value. Some insurance policies may only cover to market-value, leaving you to find second hand replacement tools.

  5. Do you work at other people’s premises?
    Consider General or Public Liability insurance to cover you for accidental damage to other people’s property or injury to someone else. In order to secure some contracts you may need a specified level of General Liability cover as a pre-requisite – without it you may not be able to get the job.

  6. Do you employ any staff?
    Consider Employer Liability insurance. This can cover sums that you are liable to pay as a result of your employee sustaining a personal injury.

  7. Is your industry heavily regulated by legislation?
    Consider Statutory Liability insurance. This is designed to cover the cost of fines or reparations (including legal costs) that a court imposes on your business as a result of a liability offence under most Acts.

  8. Do you use a vehicle for business use?
    Consider commercial motor vehicle insurance. With a policy tailored to your requirements you can be confident your vehicle and business will be back on the road as quickly as possible.

  9. Would it help your cashflow if premium payments could be spread over the year?
    Ask your insurance provider about payment options. Cashflow can be an issue for small to medium sized businesses and paying on a monthly or quarterly basis can be more manageable than a one-off annual payment.

  10. Do you think it is important to support Kiwi businesses?
    If you’re keen to support other Kiwi businesses, then check to see if your insurance policy is offered by a New Zealand company. TOWER is a New Zealand company that’s been providing insurance cover for Kiwis for over 140 years.

Get a business insurance quote

Get a business insurance quoteFor your business insurance quote or for more information, call us on 0800 379 372 Monday - Friday 8.00am - 5.00pm, or complete TOWER's online quote request form, and we will contact you.