Business Insurance For Cabinet Makers

Compare business insurance quotes with Savvy to find the best policy for your cabinet-making business.

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, updated on July 27th, 2023       

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We’ve partnered with BizCover to bring you a range of business insurance policies to help you compare them side by side.

Cabinet makers know all about customising furniture and kitchen cupboards to make sure they’re a perfect fit, so why not do the same with your insurance? The business insurance you choose as a cabinet maker should offer you protection and cover for all risks your business faces, without duplication or paying for insurance you don’t need. 

You can compare quotes for many types of business insurance here with Savvy. Just answer a few simple questions about your business and the insurance you need and you’ll have a wide range of offers to consider instantly from some of Australia’s most respected insurers. Compare with us to help you get the best-value insurance for your cabinet-making business today. 

What types of insurance should I buy for my cabinet-making business?

There are several types of business insurance you should consider if you’re running a cabinet-making business. These include: 

Public liability insurance 

Public liability insurance is essential for anyone running a business who has contact with the public or their property. This is particularly important if you’re a cabinet maker working in customers’ kitchens with other trades within a tight space. There’s plenty that could go wrong or get accidentally damaged.  

Public liability will cover you against claims that your activity caused injury to a third party or damaged their property. This insurance can offer between $5 million and $20 million worth of coverage. It is a compulsory requirement on many building sites and to tender for many contracts. 

What it covers:  

  1. Third-party personal injury claims 
  2. Damage to a third party’s property 
  3. Legal fees to defend yourself 

Portable equipment cover 

This form of insurance is available as an add-on for general business insurance and can cover all your tradie tools and portable equipment, including expensive pieces like generators and electric saws. There are two options available depending on what level of cover you are looking for: 

  1. Insured events cover: only covers named events such as fire, theft and storms 
  2. Comprehensive cover: includes the insured events listed above plus accidental damage to your equipment 

What it covers: 

  1. Fire, storm, water damage, explosion impact 
  2. Accidental damage, malicious damage 
  3. Collision or overturning of the conveying vehicle 
  4. Theft following forcible entry to a vehicle or building 
  5. Theft of equipment attached to a vehicle using locks or padlocks 

Personal accident and illness insurance  

Since you rely on your physical fitness to be able to do your job, taking care of your health should be a high priority for all people who earn a living working with their hands. Accident and sickness insurance can provide cover for you if you become sick and are unable to work, with a weekly replacement income available if you can’t work as a result of an accident or injury. 

What it covers: 

  1. Loss of income as a result of sickness, injury or accident 

 Optional extras can include: 

  1. Death benefits 
  2. Disablement benefits
  3. Payment of business expenses during your recovery period

What isn’t covered under business insurance for cabinet makers?  

The most common general exclusions for business insurance include: 

  1. Injury to your employees 
  2. Flood damage 
  3. Glass breakage 
  4. Unlawful activity or criminal negligence 
  5. Reckless behaviour or intentional damage 
  6. Anything to do with asbestos 
  7. The effects of pollution caused by your business activity

How much will business insurance cost for a cabinet maker? 

There’s no set cost for insurance, as each applicant is different and faces unique risks. Many factors influence the cost of business insurance, including the following:  

  • The state you live in  
  • Whether you live in a rural or urban area 
  • Whether you’re a sole trader, in a partnership or running a larger business 
  • Your business size or turnover  
  • If you have any employees 
  • Your credit history  
  • Your insurance history, and whether you’ve made a recent claim 

The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.  

You can find out how much insurance will cost for your cabinet-making business by comparing quotes right here with Savvy. By customising the options you choose, and the add-on extras you select, you will be able to find the best insurance for your business’ needs.

Why do I need business insurance as a cabinet maker?

You’ve worked hard to build up your skills as a craftsman and to build your business over the years, so you’ll naturally want to protect it if things go wrong. Business insurance offers you the protection and peace of mind that comes with knowing you’ll be able to survive and carry on if something unexpected does happen which threatens your livelihood. 

Most small to medium-sized businesses have some contingency funds to fall back on, but they rarely have sufficient to cover the cost of a major catastrophe. For example, if your workshop were to catch fire and you lost several weeks of work for a valued customer, you could find yourself in the red for thousands of dollars.  

If this happens and you have adequate insurance to protect your business, you’ll have a much better chance of recovering and getting back on your feet quickly. 

Types of business insurance

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Common questions about business insurance for cabinet makers

Will business insurance cover the work trailer I carry my tools in?

No – business insurance doesn’t cover commercial vehicles, and a tradie’s work trailer is considered to be a commercial vehicle. The tools in your trailer will be covered if you take out portable equipment cover, but the trailer itself will need to be insured under a separate commercial vehicle insurance policy.  

If I send completed cabinets to a client via a delivery company, are they insured when in transit?

No – you won’t usually be covered for goods in transit. For instance, if your business is based in New South Wales and you’re sending a completed piece of furniture to a client in Queensland, that job will be uninsured from the moment it leaves your workshop. However, there is special ‘goods in transit' insurance that can be purchased as an additional extra on your policy, so make sure you consider this type of cover should you need it.  

What information will I need to make a claim on my policy?

The information you should have to hand when you contact your insurance company to make a claim will include: 

  • The name of the policyholder 
  • your policy number and start date (which can be found on your Certificate of Currency) 
  • A detailed description of the incident including specific dates and times 
  • Contact details of any other parties involved (or witnesses to the event) 
  • Details of your police report number (if a crime took place) 
  • Details of the property you have lost (including its age and value) if you’re claiming for property damage or loss 
  • Your bank details for settling the claim 
Are my business insurance premiums tax-deductible? 

Yes – the Australian Taxation Office recognises that having business insurance is a legitimate cost of doing business, so the full cost of your insurance premiums can be claimed as a business expense and offset against your income. 

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