Posted on March 18th, 2015
Not all carpenters undertake formwork, but it’s certainly not uncommon to do so.
Whether or not you undertake this type of work can have an impact on your insurance.
If you are doing formwork it is vital that you let your broker or insurer know about it.
How does formwork impact upon my insurance?
Not all insurance companies cover formwork as part of a standard carpenter’s insurance policy.
What this means is that if you have a standard public liability policy and need to make a claim relating to formwork, your claim may be declined.
This is obviously not a good outcome, so it’s important to let your broker know about the work so that they can recommend an appropriate policy.
They will generally need to know what percentage of your work relates to formwork, and what type and size of structure you’re working on.
Will my insurance premiums be affected?
Depending on the nature of the formwork you are undertaking, there may be an impact on the premium you pay.
Each policy is different in this regard.
For example some policies will include cover at no extra cost if the formwork is only incidental, i.e. you only undertake the formwork on the odd occasion in addition to standard carpentry work.
Another common policy will include cover in their standard policy, but only if the formwork is limited to single storey buildings.
Some policies will offer no cover whatsoever for formwork unless you pay a higher premium to have it included.
Regardless of which public liability policy you end up with, it is imperative that you let your broker or the insurer know about the formwork.
They can then assess your needs and find a policy which is going to best suit your level of carpentry and formwork.
Getting a quote
If you’re undertaking any formwork we strongly recommend that you deal with a broker who specialises in carpenters and understands the industry.
Here at CarpenterInsurance.com.au we partner with Trade Risk, who are the trade insurance experts looking after more than one thousands chippies from all over Australia.
To get a quote on your public liability insurance or to simply ask questions about the cover please contact us.