AMP Tradies Insurance is an insurance package for Kiwi trades businesses. There’s a lot to think about when running a tradie business, balancing demand and constantly being on the move. So AMP have created insurance cover that will give you one less thing to think about - specifically designed for you, whether you’re a one man band, or run a business of up to five people. Because there’s so much going on, things don’t always go right. You want insurance that’s got you covered when tools get nicked, your van gets dinged, or you drop your ‘can’t do without it’ mobile phone. There’s also potential for really big challenges, like defective workmanship that could lead to a court case.
AMP Tradies Insurance is designed specifically to protect your type of business, so that you can have peace of mind when it comes to the risks encountered each day at work. If you have a larger trades business we can still provide a competitive insurance solution for you, contact your Adviser to discuss your requirements.
What’s covered by AMP Tradies Insurance?
* Business interruption
* Legal liability
* Defective Workmanship extension
* Digital devices
* Licensed Building Practitioner extension
* Cover for your business premises
AMP Tradies Insurance can protect the base for your business, including workshops, offices, yards, storage and reception areas up to the sum insured. Cover for your tools The portable nature of tools means they can be stolen, damaged or lost. It’s good to know that you can get these replaced or repaired. Cover for your stock If you carry stock around with you or install products and equipment, we can cover you against loss or damage. Cover for unpaid items that are installed at a customer’s premises if damaged within 60 days of installation. Up to $10,000 Cover for your valuable devices Where would you be without your smartphone or laptop? If you have a device disaster – loss, damage or theft - we’ll help you to recover as soon as possible.
Your Adviser can help you choose the types and levels of cover appropriate for your business. A successful trades business relies on functional vehicles, including trailers. Our policy covers most types of trades’ vehicles. Benefits Cover limit Cover for accidental loss or damage to your business vehicles anywhere in New Zealand Up to specified sum insured Hire of a vehicle following theft Up to $150/day to a maximum of $2,700 per claim. Up to $3,000 Cover for business continuity If an accidental event creates extra costs, we’ll step in to help.
AMP Tradies Insurance protects you against increased costs caused by a claimable event. Benefits Cover limit Cover for increased costs of working, outstanding accounts receivable, claims preparation costs and reinstatement of records. Up to $20,000 If you want comprehensive business interruption cover for lost gross profit until your business has returned to normal, please discuss other cover options with your Adviser. Cover for legal liability. Running a business exposes you to liability claims, including statutory risks. Rest easy knowing we can protect you from most of these risks. As an example, our legal liability cover could assist if your employees cause unintended personal injury or property damage while they’re at work. Liability covers Cover limit, up to Standard public and products $2 million Standard statutory $1 million Standard employers $1 million Property in care, custody or control $500,000 Losses caused by vibration or weakening of support $500,000 Forest & Rural Fires Act $1 million Defective workmanship $100,000 Defence costs $250,000 You can upgrade your cover to get the following additional liability protection: Liability covers Description Cover limit, up to LawSafe Pays legal costs for defending your employees against legal proceedings $100,000 Directors & Officers Provides cover for wrongful managerial acts carried out as a director of your company. $250,000 Licensed Building Practitioners Errors & Omissions Cover for errors and omissions in your capacity as a Licensed Building Practitioner $250,000 First aid cover Benefits Description First Aid costs (first aid kit supplies, taxi costs to emergency care). Costs in excess of those recoverable from ACC.
Insurance tips for tradies:
1. Types and levels of cover, your Adviser can help you choose the types and levels of cover that are appropriate for your business.
2. Insurance premiums, you can trim your insurance premiums by choosing higher excesses.
3. Worksites, some worksites won’t let you start work without public liability insurance.
4. Employee benefit, talk to your Adviser about offering income protection
Contact us or more information about AMP Tradies Insurance.
Important note This information summarises the insurance protection provided by the Tradies Endorsement under AMP Business Insurance policy. Terms, conditions and exclusions apply to the features and benefits outlined, so please refer to the policy wording for full details of cover. This AMP branded insurance product is underwritten by Vero Insurance New Zealand Limited.
A disclosure statement is available on request and free of charge from your Adviser.