Marsh Insurance

Things to remember at renewal time

Natasha Golden, Principal Insurance Broker for the Marsh trades team

With a number of years up my sleeve assisting businesses with their insurance renewals, I’ve seen the unnecessary stress that can be placed on an owner’s shoulders if they accidentally leave their renewal to the last minute.

To help combat last-minute-itis, below are some key tips to help plumbers navigate their insurance renewal.

Important reminder: Marsh Plumbers Public Liability Insurance is underwritten by Chubb Insurance Australia Limited and meets the minimum liability insurance requirements set by the Victorian Building Authority (VBA).

Already with Marsh? Six weeks before your insurance renewal, our team will send you an email that includes a renewal declaration form. Essentially, a renewal declaration is a questionnaire that when completed will provide a snapshot of your business to help us ensure your renewal terms match your current business insurance needs.

You will receive reminders along the way, however be sure to complete the renewal declaration early so we are able to finalise and provide your Certificate of Currency as soon as possible. Some things to have handy when completing a declaration form: • Current turnover amount • Number of plumbers • Annual payable amount to sub-contractors • Business Activity – have you expanded your business activity since last renewal? • Claims – have you made or needed to make an insurance claim, know of a claim that is yet to be lodged or are aware of a third-party claim or potential claim that may be made against your business?

Once you’ve provided your renewal declaration and the insurance premium payment has been made, Marsh will send across your Certificate of Currency. If you are a Victorian plumber, we will also send your Certificate of Currency directly to the VBA to assist with finalisation of your plumbing license renewal.

Looking for alternatives? From sole traders to companies with ten or more employees, Marsh can help arrange insurance solutions for plumbing businesses of all sizes. We have developed an online tool for small to medium-sized plumbing business that allows you to get a quick quote and arrange public liability cover online. If you are a large plumbing business, have a claims history, and/or provide complex business activities such as offering full bathroom renovations, we can still support your insurance needs. To get started, please contact the trades team so we can tailor a solution that meets the needs of your business.

Did you know! As an insurance broker, Marsh has access to a range of insurance providers and products. We not only assist with public liability cover, but can also help arrange the following types of insurance: • Commercial Motor • Tools & Equipment • Professional Indemnity • Property • Personal Accident • And much more.

Got a question? Contact the Marsh Trades team Phone: 1300 300 511

Email: trades.australia@ marshadvantage.com Website: marshplumbers.com.au

Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238 369)(Marsh) arrange this insurance and are not an insurer. When arranging Public Liability Insurance, Marsh acts under binding authority on behalf of Pacific Underwriting Corporation Pty Ltd (ABN 77 091 225 535, AFSL 237 270), who act as agent of the insurer, Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL 239 687). This brochure contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire the product, refer to the specific policy wordings available from Marsh. The Master Plumbers and Mechanical Services Association of Australia receives a financial benefit when an insurance policy is arranged by Marsh. LCPA No. 21/019.

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One of the main things I have is connections with the community. A lot of our residential clients are grandchildren of clients my grandfather used to work with, and to build that trust and those personal relationships over many years are really important.

How to build a successful business

John Tuck is retiring from the business he created 50 years ago. His business is so successful it will continue with his name. Kathryn Kernohan chats to John about plumbing, business and retirement.

After almost 50 years in the plumbing industry, John Tuck recently swapped the tools for a caravan. The former Director of Melbourne’s fourth-generation family business, Tuck Plumbing, described his impending retirement as “a bit surreal” when he spoke to Master Plumbers during his final weeks.

“I’m actually finding it really hard because there is a finality to it after talking about it for a while. Particularly when I am emailing and calling people to let them know [I am retiring], it is quite difficult,” he said. “My wife is a teacher and she is retiring too, so we have talked about travelling around Australia in a caravan. When we are able to travel overseas again, we will be keen to do that too. We are both the sort of people who don’t like to sit still, so we will certainly have a lot of plans.” Tuck Plumbing will continue to live on, with John having sold the business to a long-term employee. “Mitchell, who will own the business, has been with us for 13 years and he is definitely part of the Tuck Plumbing family. I think he will build on the business, we used to be bigger but in the past few years we’ve cut back to just a couple of guys.” With a laugh, John described himself as “a bit of a control freak” – one of the reasons it was so hard for him to say goodbye. “I really like to be hands-on with the business – we offer a high standard of service and I like to be across all aspects of what we are doing. I am still on the tools myself but not as much as I used to be.”

John’s grandfather founded his plumbing business in the 1930s, and his father, uncle and other relatives all worked together at various points. “When my dad was about 40, he decided that he would leave the plumbing industry and become a dairy farmer, as we lived on a farm near Shepparton. So I decided to move to Melbourne and pursue plumbing,” he said. John entered the industry in 1973, two years later won Master Plumbers’ prestigious Andrew Letten Gold Medal, the highest industry award given to plumbing apprentices in Victoria, and has not looked back since.

Tuck Plumbing performs an even split of residential and commercial services. Residential services include hot water service supply and installations, water service repair and renewals, gutter and roofing repairs, maintenance and replacements and gas fitting installations. Commercial clients include schools, aged care facilities, shops, hotels, council buildings and commercial real estate agencies. Tuck Plumbing works with commercial clients both on an ‘on call’ basis and via annual contracts.

John said the majority of the business’ work comes from word of mouth recommendations, and that customer service is key to its longevity. “Customer service drives the business. It is all about communication, like letting the customer know if you’re running late and returning phone calls and e-mails quickly, as well as providing a high standard of work. “One of the main things I have is connections with the community. A lot of our residential clients are grandchildren of clients my grandfather used to work with, and to build that trust and those personal relationships over many years are really important. People know that when they call the business they’ll speak directly to me, and that I am personally on hand to chat about anything along the way.” And as for whether John’s son felt any pressure to follow his father, grandfather and great-grandfather into the plumbing trade? “There was never any pressure from us and in the end, because he saw me working all hours of the day and night, he decided to become a chartered accountant.”