As a tradie, you need adequate insurance to protect yourself, coworkers and your equipment if an incident occurs. There are many different types of insurance and it can be hard to figure out if you have the right insurance for your trade.
So, what insurance is available to tradies?
Tradies insurance falls into three categories: trade public liability insurance, income protection insurance, and trade tool insurance.
Trade Public Liability Insurance
Public liability insurance is essential for tradies, and often a requirement before undertaking work on a site. Public liability will protect you if you directly or indirectly cause damage to property or an injury to someone while working on a job site.
For example, if you’re working on a construction site and someone trips over an electrical cord, you will need to pay for their medical expenses and recovery. This is where public liability protection comes in. Even if it is not strictly required at your worksite, it is highly recommended to give you financial stability in this situation.
Income Protection Insurance
If you’re injured or sick and unable to work, income protection insurance will cover you until you can return to work. This type of insurance includes workers compensation, for workplace-related injuries and illnesses.
While it may not be required, some tradesmen aren’t allowed to enter a site without it. Income protection insurance can also be required to comply with contracts. Even the most experienced tradies can get injured, and the risk of illness increases with age. Don’t just assume ‘it won’t happen to me’.
Trade Tool Insurance
Your tools are vital for completing your work and earning an income. Getting insurance for your tools is a must, because losing your tools could set your schedule back significantly. In the event of a flood, fire or theft, you’ll be glad your tools were protected.
All trades are different, so to really find the right insurance for you, you should speak to the experts. At Tradesure, we offer insurance packages for all trades, no matter your business. Contact us for a quote today.
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