Let’s keep things simple today by discussing the two main forms of insurance which are absolutely essential if you work as a carpenter. Without this cover in place, you could find yourself in a very difficult position financially if something goes wrong.
Public liability insurance
For carpenters, public liability insurance is probably the most important form of cover and hopefully you already have it in place. Liability insurance means you’re financially protected if you cause damage to property or injury to a person as a result of your work actions. It also covered legal bills if you need to hire a lawyer during a claim.
If you’re found liable for damages after a claim, you could be responsible for medical bills, rehabilitation, repairs, replacements and any number of other costs. As a carpenter, damage could easily happen from something as small as scratching furniture in a client’s home to something as large as structural damage while onsite. A third party can also be injured due to incidents such as tripping on equipment.
General property cover
Although general property cover is important for most tradies, it’s particularly important for carpenters given the amount of gear you need to carry with you. This form of insurance means your transportable items, including all your tools, are covered if they’re lost, damaged or stolen. Considering how much it would cost to replace all of your tools and equipment if something happened to them, general property cover is well worth it.
These are just two policies which apply to carpenters and your broker can help you identity other areas of risk.
To discuss liability insurance or any other form of cover for your carpentry business, contact All Trades Cover today on 1300 826 850 and we’d be happy to help.