Avoid nasty insurance claim surprise: How to decipher quotes

By: Julia Robret

After shopping around for a tradesmenís insurance quotes it can all seem a little too hard to compare them. It involves much more than just comparing the premiums and going with the cheapest one. Doing this can result in a not so nice surprise at claim time when you find out you are missing valuable parts of your cover or you are under-insured.

Compare the cost

Yes, you should compare the costs of the different premiums. It is often the first thing that we all look at so itís also a great place to start. If you know how much your budget is, it might be best to strike out anything too far above it at this point. You can often pay your premiums by the month or annually. If you pay annually many brokers or insurers will give you a discount or charge you more to pay by the month, keep this in consideration when it comes to choosing your policy as the difference can vary from no price rise, to up to 15% for paying monthly.

The sum insured

If you are obtaining a policy for public liability, business interruption, or tool cover, motor vehicle policies, or other fixed benefit policies, you will need to consider how much you want to insure the item or liability for. Public liability generally offers amounts of $5, $10, $15, $20million. Whilst for tools and cars it will depend on their value and replacement costs. Ensure that your policies compare the same sum insured so that the comparison is fair.

Compare the cover

The cover is very important as this is what you are actually insuring. Your policy needs to be suitable for the needs and nature of your business, the risks, and the property you own. It is a good idea to make note of all the things you need cover for, the bare essentials, and then make sure your policy covers those at least.

However, there are things that an insurance broker will be able to point out that you might not know about. Such as insuring for recovering your lost bobcat if it gets bogged and you canít work for a few days. Or making sure that your tool cover is comprehensive enough to include leaving them in an unlocked car by accident. Advice like this can be the difference between being out of pocket and not able to work, and being able to bounce back immediately and stay on top.


Insurance for tradesmen can be very comprehensive, however there are some things which cannot be insured, or will cost a little extra to cover. There are some activities which different insurance companies will exclude from the policy. For example, when it comes to painters, many policies exclude spray painting, whilst others donít and these will be at a higher premium. Being aware of these little things when comparing a quote can help you understand the costs.

Getting some professional advice

The complexity of your insurance hunt can mean that professional advice is necessary. Insurance brokers can compare quotes and policies in a flash and have the right advice for each industry and trade. Theyíve done it all before and know the little extras that will make a huge difference in the long run when it comes to claims. They will also know the right questions to ask you about your business so that you can obtain the right types of quotes. If you need more information about quote comparison, check out All Trades Cover today and get a free online quote straight away.

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Julia Robret has broad and deep experience in insurance field. She also writes articles in her spare time. Presently, she is writing contents on trade insurance quotes

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