Insurance for Contractors & Subcontractors
Public Liability and Tool cover
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What is contractors’ insurance?
Contractors’ insurance (the many types of business insurance made for contractors and subcontractors) helps you manage the cost of various risks, like mistakes in your work, accidental property damage, and stolen tools.
The freedom of being self-employed also comes with risks. If something goes wrong because of your work—like a worksite injury or damaged materials—it’s up to you to set it right.
That’s why many contractors and subcontractors consider business insurance to help keep unexpected bills from chipping away at their bank accounts.
Why do contractors need insurance?
Contractors and subcontractors may need business insurance to meet contractual obligations and help pay unplanned expenses.
Enter a jobsite
Receive a trades license
Work with specific clients
Pay legal costs if you face a liability claim
Let’s cover your small business on the go
Start a quote to see how much you can save and buy online in minutes.
Did you know?
Depending on your trade or the industry you work in, some types of business insurance may be required in parts of Australia.
Clients may require you to have certain types of contractor or subcontractor insurance, such as Public Liability or Professional Indemnity, to work with them. You will likely be asked to show proof of insurance before signing a contract with them.
Public Liability and/or Professional Indemnity insurance may be required to receive a trades or professional license in some states and territories. These types of cover may also be necessary to join a trade or professional association.
What types of insurance do contractors & subcontractors need
We offer a range of insurance options made to cover your business, tools, and stock. Build an insurance package that meets your unique business needs and buy online in minutes.
Popular cover for contractors & subcontractors:
Contractors & subcontractors may also consider:
How much does contractors’ insurance cost?
The average cost of business insurance for contractors can vary with BizCover. However, the cost of insurance depends on several factors, such as the industry you work in and the amount of cover you choose.
Factors influencing cost
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Get cover that works with the risks of your business
Select different cover amounts for each policy listed below.
This is the most you will be paid out if you need to make a claim.
Unsure how much to choose? Think about:
Statutory Profession Requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Factors influencing cost
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Get cover that works with the risks of your business
Select different cover amounts for each policy listed below. This is the most you will be paid out if you need to make a claim.
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How it works – buying online
5 easy steps to get instant cover online today
Select Profession
Pick Your Covers
Add Business Details
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Get Covered Online
5 Steps to get your biz insured:
- Enter Occupation
Search & select your occupation
- Choose Cover(s)
Select the cover you need
- Business Details
Tell us about your business
- Compare Quotes
Compare prices & select quotes
- Get Cover Today
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How to make a claim online
We’ll assist you through the claims process & manage the claim directly with the insurer.
Let us know Fill out our
claims form and provide info
to support the claim
Receive extra support We
will assist you with your claim
Claim results We will notify
you of the claim outcome.
3 Steps to get your biz insured:
- Let us know
Fill out our claims form and provide info to support the claim.
- Receive Extra Support
We’ll assist you with your claim.
- Claims Results
We’ll notify you of the claim outcome.
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See how much others have saved while purchasing policy through BizCover
Colette
Disability Care Worker from
NSW
Saved
$1,200
on
Public Liability and Professional Indemnity insurance
Andrea
Beautician from
VIC
Saved
$1,500
on
Business insurance Pack and,
Public Liability and Professional Indemnity insurance
Deborah
Cleaner from
VIC
Saved
$3,600
on
Public Liability insurance
Lance
Electrician from
ACT
Saved
$800
on
Public Liability insurance
Stephen
IT Professional from
VIC
Saved
$1,500
on
Information Technology Liability insurance
Linda
Restaurant owner from
NSW
Saved
$1,000
on
Business Insurance Pack and
Public Liability insurance
^ Savings made from January 2024 to April 2025. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
Frequently Asked Questions
Professional Indemnity is an important type of contractor liability insurance that you might consider if you give advice or recommendations, provide a professional service, or design custom solutions. These policies cover you for losses claimed by a third party and defence costs due to alleged or actual negligence in your professional services or advice, including your defence costs cover.
Public Liability insurance helps protect you if a third party claims that your negligent business activities caused them injury or property damage. This includes defence costs cover.
Looking for an easy way to protect your contracting business from multiple risks? Business Insurance is a convenient package of policies that can be tailored to your needs as a contractor or subcontractor. You can include different types of cover, such as Public Liability, Tax Audit, and Business Interruption.
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Awesome and saved me $100 a month
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Every staff member I spoke to was than happy to help me through all of my questions. Great service! Won me over from a competing company.
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Quick and easy. Took the hassle out of shopping around and comparing.
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So easy to renew – takes the hassle out of organising insurance.
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Easy to use and beat my current insurances quote by a long shot- happy.
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