Business insurance · Australia · Head-to-head

Trade Risk vs Upcover

Two Australia business insurance options, compared side by side for Australia trades.

Which should you choose?

Trade Risk and Upcover are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and Australia-specific notes below against your trade and region.

Trade Risk

Tier A · Listed

Brisbane-based insurance broker for trade businesses, run by Trade Risk Pty Ltd

Trade Risk is an insurance broker focused on trade businesses, operated by Trade Risk Pty Ltd, a Queensland company registered in 2012 and founded by Shane Moore. Its website describes broking public liability, personal accident and tool insurance for tradies, with a focus on the construction trades. As a broker it quotes each business individually rather than selling cover off the shelf.

Pros

+ Broker focused on trade businesses, including the construction trades
+ Arranges public liability, personal accident and tool insurance
+ Operating since 2012, with a Brisbane office

Cons

− No published prices could be checked: each policy is quoted
− Ask which insurer underwrites each policy and whether a broker fee applies
− Enquiry and quote process rather than instant online cover

Australia note

Trade Risk Pty Ltd (ABN 51 157 750 751) is registered in Queensland, with business names including Trade Risk Insurance Brokers, Tradies Insurance, Patch Insurance Brokers and Income Protection Australia. Its website gives an office in Hendra, about 15 minutes north of the Brisbane CBD.

Typical Australia pricing: Quote-based; no public prices could be checked

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Upcover

Tier A · Listed

Sydney online insurance platform: tradie public liability and tools cover, quoted and bought online

upcover is a Sydney-based online insurance platform that arranges business insurance with selected insurers and underwriters; it says it has more than 80 insurance partners and more than 70,000 small-business customers. Its trades and construction page offers public and products liability, tools of trade, commercial motor and fleet, and tax audit cover, quoted online. Business News Australia reported in February 2025 that it raised a $19m Series A in debt and equity.

Pros

+ Quotes and purchase online; upcover says quotes take minutes
+ Tools of trade cover for theft, damage or loss of tools and equipment, including power tools and machinery
+ Proof of insurance can be sent as soon as the policy is bought, upcover says
+ Monthly instalment option

Cons

− No public prices; a quote is needed
− Monthly instalments carry an instalment administration charge (a flat percentage of the total cost), per its terms
− Service fee of $0 to $300 (ex GST) per policy on top of the premium, per its terms
− Acts as agent of the insurer, not the customer, when it effects a policy

Australia note

upcover Pty Ltd (ABN 17 628 197 437) is a Corporate Authorised Representative (CAR 1299211) of Experience Insurance Services Pty Ltd, AFSL 539078. Its terms say it acts as agent of the insurer, not the customer, when it effects a policy, and its site says it does not compare all insurers in the market.

Typical Australia pricing: Quote-based; no public prices. upcover's terms list a service fee of $0 to $300 (ex GST) per policy and an instalment administration charge (a flat percentage of the total cost) for monthly payment.

Full review → Visit →

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