There are almost 150,000 carpenters and joiners in Australia, and the majority (31.9%) of them are based in New South Wales.

Being a chippy means that no two days are ever quite the same. One day you might be framing up a new build, the next you’re fitting kitchen cabinets, doing some repairs or working on detailed joinery. Whether you’re working solo, managing a small crew or subcontracting on larger sites, there’s always something to keep you busy – especially when things don’t go to plan. That’s where business insurance can help.

NSW carpenters and joiners insurance requirements

In NSW, carpenters must hold a valid licence issued by NSW Fair Trading to legally contract for or perform carpentry work on residential or commercial projects above $5000.

There are no specific insurance requirements for carpenters and joiners in NSW. However, you must take out insurance under the home building compensation scheme if you are a principal contractor for residential building work and the price for the work is more than $20,000.

That said, it’s a good idea to have business insurance if you’re a carpenter or a joiner because it can help to protect your business, finances and reputation if something goes wrong on the job.

Business insurance for carpenters and joiners

Find out more about some of the more common policies often taken out by carpenters and joiners in NSW.

Public Liability insurance

Public Liability insurance covers legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for injury or damage to their property as a result of your alleged negligent business activities. Like if a customer trips over an errant toolbox, or a heavy stack of timber damages a supplier’s ute.

As a professional tradesperson, you’re probably called on regularly to give advice and guidance. This could be for a commercial customer or for a large jobsite. Professional Indemnity covers you for losses claimed by a third party and defence costs due to alleged or actual negligence in your professional services or advice. This includes defence costs cover.

Personal Accident & Illness insurance

This type of insurance is often a good choice for self-employed sole traders, as it is can provide a weekly income benefit following an accidental injury or illness for a set amount of time. Personal Accident and Illness insurance can help to give you peace of mind while you rest and recover before getting back on the tools.

Portable Equipment insurance

Portable Equipment insurance covers you for loss and damage to your tools and stock due to theft, fire and other perils listed in the wording. It can help to make sure you’re not financially impacted or need to stop work if essential tools are damaged or stolen during the course of their work.

Carpenters insurance cost in New South Wales

There is no single product known as “carpenters insurance”. This term generally refers to the common business insurance policies that chippies tend to take out.

On overage, the insurance cost for carpenters in New South Wales is $79 per month.* However, the premium can vary based on factors like your business size, location and services offered. The best way to find out how much you’ll pay is to compare multiple quotes through BizCover. It’s easy, and it only takes a few minutes.

*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.

This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the PDS or policy wording.

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