Everyone knows that the end of financial year is the best time to stock up on all the tools for your trade. Hardware and supply stores do their best trade in the weeks leading up to the 30^th June every year. Not only is this the time when you can set yourself up for the next financial year but you’ll be able to claim the cost of these tools back on tax in July. Insurance is another great tool for a tradies business and it’s also tax deductable.

If there’s anything the past few months have shown us it’s that insuring your business and other assets is essential. You have no way of predicting if and when something might happen to you or your business.  Insurance offers protection for you, your business and your lifestyle in the event of accidents, crime and natural disaster.

Making sure you get the right policy is just as important as getting cover in the first place. The best tip is to get your insurance through people who specialize in, and understand, your industry as this will ensure maximum coverage for your specific trade. Imar is the tradies insurance specialists and can design the perfect policy for your business.

Policies including Public Liability, Income Protection, Tools and Stock Insurance and even Motor Vehicle Insurance can be organized to protect you if something goes wrong. Imar shows they know about tradies and their businesses by offering, for example, monthly premiums and no paperwork. Imar knows that tradies appreciate cash flow and hate doing paperwork, particularly insurance paperwork.

So while you’re picking up your tools for the next financial year, make sure you insure them… and your business while you’re at it. That’s got to be much better than giving your hard earned money to the Tax Man!

To find out more about Imar’s tradie insurance call 1800 284 627 or visit www.imar.com.au/

Without your tools you’re no more able to work than if you’d forgotten your name and what a ratchet is, yet it’s still one of the biggest reasons stopping tradies from working – even more common than worksite injury. With over 4000 reports of theft of tools being made to New South Wales Police Force in 2007 alone, and the average cost of a claim being over $5000, it’s surprising that every tradie doesn’t sleep with his tool box under the bed just to be on the safe side.

National retailer Total Tools describes theft as one of the most common reasons for immediate purchases at their stores:  “The problem is rife. Every day of the week one of us will serve a customer who’s replacing his tools because of burglary, theft on site or willful damage. It’s the same for all our stores. Some of the customers will have insurance cover and some don’t. It’s a pretty desperate situation because not only are you forking out to replace years worth of your tools, you have to do it because it’s also stopping you from earning” says Greg Cairncross of Total Tools in Brooklyn in Victoria.

You’ve got to ask yourself have you got enough space on the credit card to pay 5 grand tomorrow if the worst happened just to get you back to work? As if things weren’t tight enough as it is! Even where tradies do have insurance the average settlement of a claim tends to take 4 weeks so you still often have to wear the costs for some time. Unless of course you have enough mates to help you out with tools for that long then you’re obviously a very good bloke – most don’t!

“We know that tool theft or damage is a very common working hazard for tradies” says George Illiow of Imar Insurance “We do everything possible to have claims settled in 1-2 weeks because we understand that the loss is keeping guys from working or they have to cover the costs themselves. It’s also vital that the tradies’ tools are covered with an insurer who looks for ways to pay claims, as opposed to one that looks for ways to deny them as the difference in these insurers is huge and could impact dramatically on the tradie”

Ways to speed up your claim is to make sure you hold on to the receipts from when you bought them (which would be required for taxation purposes anyway), record serials numbers, photos can also help but are not essential, and a police report is very important where there’s been a theft or malicious damage.

Of course prevention is always better than a cure and there are ways to reduce the chance of your tools getting knocked off in the first place. Imar suggest that your vehicle is alarmed and locked when unattended. Try and keep your vehicle out of harm’s way, so where possible avoid leaving it in a high exposure area e.g. a public car park or parking on street at night. Obviously wherever possible keep more valuable items out of sight.

Also when you’re looking for insurance it’s important to consider if your cover is Australia wide, does it cover your mobile phone, does it include stock; laptops; cameras and your Sat Nav, is it limited to the vehicle only, in the garage or worksite? A lot of policies don’t necessarily include all of this so when choosing a policy it’s best to avoid buying on price alone – a policy may cost a few bucks more, but that’s nothing compared to having to find 5 Gs or more just to get you back on the job.

For more information about protecting your tools and your business contact IMAR on 1800 AT IMAR.

PROFESSIONAL INDEMNITY
You have the option to include cover for Professional Indemnity which will protect you should you give advice.

ENVIRONMENTAL IMPAIRMENT
The package can be extended to include environmental issues.

TREE LOPPING
Example – Whilst cutting down a tree you cause injury or property damage, you are covered.

SUB-CONTRACTORS
Example – If you use subbies and as a result of their negligence, you are included in a legal action against them, you are covered.

PRODUCTS LIABILITY
Example – You use a poison & it has been incorrectly manufactured and as such causes injury or damage, you are covered. For example, it is much stronger than it should be and a child is poisoned etc, you are covered.

LEGAL COSTS
The policy includes legal costs as part of your limit of indemnity.

TENANTS LIABILITY
Example – If you rent a building and negligently cause damage to it, you are covered.

PRINCIPALS INDEMNITY
Many principal contractors require contractors to provide them with protection should the contractors cause a problem. Often it is written into a contract and overlooked so our policy automatically covers it for you.

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

Here are some snap shots:

• Accidental Damage
• Theft from premises
• Covered whilst in transit
• Negative film cover
• Public Liability
• Cancellation and abandonment

You start with a rough raw material that doesn’t really appeal to anybody, but you have a vision. After you have crafted this raw product you end up with a masterpiece that is designed specifically.

Our product is very similar, we also started with a rough product and crafted it for your industry.

ACCIDENTAL DAMAGE
For example. Should you drop a piece of equipment, you are covered.

THEFT
For example. Should your premises be entered with or without forcible and violent entry, you are covered.

EMPLOYEE FRAUD OR DISHONESTY
For example. Should an employee steal contents or cash from your business, you are covered.

NEW FOR OLD COVER ON BUILDINGS AND CONTENTS
For example. Should your property be damaged by fire, or other insured peril, it will be repaired / replaced as new.

LOCKS AND KEYS REPLACEMENT
For example. Should your keys be lost or stolen, the cost of replacing the locks and keys is covered.

PREVENTION OF ACCESS
For example. Should access to your premises be prevented or hindered due to a fire or other insured peril in the vicinity, and as a result you lose income, you are covered.

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

Covers include – for example

• Cattle including special
• Feedlot facilities
• Embryo insurance
• Sheep
• Deer
• Alpaca
• Fish farms
• Buffalo

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

Special Wordings Including:

• Damage to craft including fire, transit, collision, theft and accident damage
• Automatic liability cover for $5,000,000. (Higher options available)
• Option to include water skiers extension (sit-on runabouts only)
• Surf (open water) risks
• Option to include racing extension
• Cover provided whilst in store, in use and whilst in transit (trailer)
• Full market value wording

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

The types of activities insurable can include (but are not limited to):

• Riding Tuition &/or Trail Rides
• Hand Led Pony Rides
• Rodeo & Camp Drafting Events
• Horse Training & Breaking
• Horse Drawn Carriages/Wagon
• Agistment
• Camel Rides
• Equestrian Centres

Other activities such as Property Owners, Camping, Bush Walking, Rural Accommodation etc can all be included under the one policy.

Limits up to $10,000,000 or more for Public & Products Liability including $1,000,000 for Errors & Omissions can be provided.

Cover for animals in your custody for agistment or training is also available.

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

In addition to our standard covers such as fire, explosion, storm, earthquake, burglary, malicious damage, escape of liquids, glass breakage and so on, you are provided with the following advantages:-

• New for Old cover on Building & Contents
• Accidental Damage Cover
• Malicious Damage by Tenants
• Intentional Non Malicious Damage by Tenants
• Loss of Rent
• Rent Default
• Theft by Tenants
• Property Owners Liability
• Fusion of Electric Motors
• No Under Insurance Clause
• Legal Expenses

This class of policy has a Product Disclosure Statement which is available from our office. You should consider the statement when deciding whether to purchase the particular product.

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.

FIRE
Fire damage to all insured property including stock/vines and contents as specified.

Fire including fire resulting from the acts of lawfully constituted authorities in attempting to prevent the spread of fire.

EXPLOSION
Explosion, excluding damage to or explosion of pressure vessels (which includes but is not limited to boilers, compressors and air receivers and any of their contents) which require certification under Law.

LIGHTNING
Lightning strike, leaving visible and physical evidence of same.

EARTHQUAKE OR VOLCANIC ERUPTION
Earthquake, including subterranean fire, or volcanic eruption arising from earthquake.

AIRCRAFT
Impact by aircraft, spacecraft or other aerial devices designed to fly, including impact from items dropped from same.

IMPACT
Impact by vehicle (whether registered or unregistered) and /or its load.

MALICIOUS DAMAGE
- Acts of -

1. Persons taking part in riot, civil commotion or strike, lock-out workers, persons taking part in labour disturbances or persons acting maliciously in connection with any political organisation.
2. Other persons acting maliciously.
3. Any lawfully constituted authority in connection with the acts referred to in (1) and (2) above.

BURGLARY AND/OR THEFT
Theft of grape vines or their crop (with cover extending to damage caused during an act of burglary and/or theft).

FLOOD
Inundation following the escape of water from the normal confines of any lakes, reservoir, dam, river, creek or navigable canal as a result of a natural phenomenon.

FROST
The destruction or damage to the vegetative parts of a plant arising from freezing of fluids within plant cells and the consequent rupturing of plant cell walls.

HAIL
Pellets or stones of frozen rain falling in showers or storms.

ACCIDENTAL CONTAMINATION
Accidental oil spillage occurring in the vineyard during harvest causing damage to crop.

TRANSIT DAMAGE
Damage to crop harvested from grape vines within the vineyards, caused by fire, collision or overturning of any vehicles conveying the crop from the vineyard directly to its normal delivery point.

CLAIMS COSTS
If we pay a claim under this policy, then subject to our prior written consent, we will also pay costs necessarily and reasonably incurred to investigate, prepare and settle any claim paid under this policy.

LOSS OF REVENUE
You can also elect to insure your loss of revenue should your crop be damaged by one of the insured perils.

The cover displayed may be varied depending upon your own circumstances and claims experience. The policy provides full details of covers and exclusions.