Brick and Block Layers Insurance
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Brick & Blocklayers Insurance NZ
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Starting a business in Brick and Blocklaying in New Zealand brings a wealth of opportunities. But with opportunity comes risk, and the best way to manage that risk is through insurance. We’ll dive deep into the world of Brick & Blocklayers Insurance and why it’s indispensable for your business. If you are keen to get a quote right away, feel free to contact us at Gerrards Insurance Brokers. Otherwise, read on to learn more.
Why Do Brick & Blocklayers Need Insurance?
Being in the construction industry, Brick and Blocklayers are subject to a plethora of risks. Accidents, damages, and thefts can lead to considerable financial losses, causing setbacks for your business. Insurance safeguards your enterprise from these risks, providing a financial safety net when things don’t go as planned.
What Insurance Covers Might a Brick & Blocklaying Business Need?
Public Liability
This policy covers common business risks including bodily injuries, customer property damage, and advertising injuries. It’s required for most commercial leases.
Best For
- Business Accident Coverage
- Third-party Damages
- Legal Cost Protection
Statutory Liability
This cover is a type of protection that helps people or businesses cover costs if they accidentally break certain laws or regulations.
Best For
- Unintentional breaches protection
- Legal costs
- Fines and penalties
Business Vehicle Insurance
Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.
Best For
- Repair costs
- Third party damages
- Injuries
Loss of use
Coverage that helps when your vehicle is unusable due to an accident. It covers the cost of a temporary replacement vehicle, so you can still get around while your car is being repaired.
Best For
- Temporary vehicle
- Reimbursement expenses
- Accident downtime
Tool Insurance
Safeguards your tools against unexpected events, like burglary or accidental damage, ensuring you won’t have to bear the financial burden of replacing them.
Best For
- Burglary protection
- Accidental damage protection
- Anywhere in New Zealand cover
Cyber Insurance
Insurance that helps protect individuals and businesses from financial losses caused by cyber-related incidents, like data breaches and computer attacks.
Best For
- Ransomware attacks
- Phishing scams
- Cyber extortion
Brick & Blocklayers Insurance Claims Examples
Here are a few examples of how insurance can save the day in different scenarios:
Accidentally Using the Wrong Bricks
Let’s say you accidentally use a batch of wrong coloured bricks for a project. Public liability insurance could potentially cover the replacement of the bricks under the defective workmanship extension (if it includes this.)
Door Left Unlocked
If you accidentally leave a customer’s door unlocked, and their property is stolen, your public liability insurance could cover the cost of the stolen goods.
Painting Damaged on Way Past
While moving equipment, you accidentally knock over a valuable painting in a client’s house. Public liability insurance will cover the cost of repair or replacement.
Car Broken Into and Equipment Stolen
Plant/Tools Insurance can cover the cost of stolen equipment.
WorkSafe Investigation
In the unfortunate event of a workplace accident, statutory liability insurance can cover legal costs related to a WorkSafe investigation.
Transferring Money into a Fraudulent Account
Cyber insurance can cover the losses from such a scam.
A Natural Disaster Damages Equipment
In case of an earthquake or flood damaging your equipment, your plant/tools insurance can cover the repair or replacement costs.
What to Watch Out For With Brick & Blocklayers Insurance
Navigating insurance policies can be a complex task. Here are some pitfalls to avoid:
The Inclusion of Property Being Worked On
It’s vital to ensure that your public liability policy covers the property you are actively fixing or working on.
Public Liability Limit
Due to recent claims in New Zealand, you should look to have a limit of $2,000,000 or more, even if you’re solely working in the residential space.
Keys and Locks Cover
This is essential for covering the costs of replacing locks and keys that get lost during your operations. This cover can be included under your public liability policy.
Theft Cover on Tools
Some policies restrict theft cover to certain circumstances. Make sure your tool insurance policy isn’t too restrictive.
Transferring Money to a Fake Account
Be aware of the risk of fraud and ensure your cyber insurance provides cover for such incidents.
Cover for Hired or Leased Equipment
If your business hires or leases equipment, ensure your insurance policy covers these too.
Excess Levels
Check the excess levels on your policy. A lower premium often means a higher excess.
Rapid Response to Claims
Choose an insurer who responds quickly to claims. Delays can disrupt your business operations.
How Much Does Brick & Blocklayers Insurance Cost?
The cost of Brick & Blocklayers Insurance can range from as little as $300 a year for a small business wanting public liability cover to $1000’s for larger businesses with many vehicles and employees.
Size and Turnover of the Business
Bigger businesses with a greater turnover typically pay more as they present a greater risk.
Location
Insurance Rates can be greater in areas with a higher incidence of claims. This is especially applicable for insurances such as vehicle insurance.
Who is Being Covered
The experience of workers can have an impact on the cost.
Claims History
Brick & Blocklaying Businesses with a history of claiming on there insurance will be presumed by an insurance company to be more likely to claim in the future. They thus charge these businesses higher premiums.
Level and Types of Cover Required
Having a full range of insurance products such as Public Liability, Statutory Liability, Employment Disputes, Cyber Insurance, Tool Insurance & Vehicle Insurance will cost more than someone who just wants Public Liability Cover for their Brick & Blocklaying Business.
At Gerrards Insurance Brokers, we can provide you with an indication of cost or a full quotation based on your needs.
What Happens When I Need to Claim on My Brick & Blocklayers Insurance?
At Gerrards Insurance Brokers, we have claims experts to handle your claims on your behalf. We simplify the process, reducing your stress during a difficult time.
How Do I Buy Brick & Blocklayers Insurance?
You can talk to us at Gerrards Insurance Brokers. We provide personalised advice, ensuring you get the right cover and the best deal. Contact us now for a quote.
Conclusion
Taking out Brick & Blocklayers Insurance in New Zealand is crucial to protect your business from potential risks and losses. It’s not just about buying any insurance, but the right insurance, tailored to your business needs. And at Gerrards Insurance Brokers, we are here to help you navigate this process, ensuring your business remains robust in the face of uncertainty.
