As an employer in the trades industry, safety on site is one of your major concerns. But accidents do happen and there’s always a higher risk for tradesmen given the nature of their work, so it’s important to make sure that everyone on site is covered under your insurance policies.
1. Protect Your Workers
As an employer you are responsible for the occupational health and safety of your employees and part of that is having a workers’ compensation policy in place to protect your employees in the event one of them is injured on site. Workers’ compensation is a mandatory insurance requirement for business owners in Australia. If an employee is injured on the job, their employer is liable for their medical costs and associated sick leave. That’s where workers’ compensation insurance is in both your employee’s interest and your interests. You need to be aware that the regulations for workers’ compensation can differ from state to state around Australia, so be sure to check the requirements for your location.
2. Protect the Public
Regardless of which part of the process your business is involved in on site, public liability insurance is a necessary cover for all trades businesses. As a tradie, you know that there is always a risk working on site. If somehow someone was injured or someone’s property was damaged as a result of your business’s actions on the site, you will be liable for the financial costs associated with the incident. This could be hefty medical expenses for a client or member of the public, or the significant cost of repairs, replacement or rebuilding of property. Public liability insurance covers your business in these situations, providing the funds for everyone to get back to work as soon as possible. Your premium will depend on the assessed risks associated with your trade, your annual revenue and the number of staff you employ.
3. Protect Yourself
Lucky last on the list is of course to protect yourself. As the boss of your business, you’re the cog that keeps the business turning. Without you, the business just doesn’t run effectively. Plus if you’re a small business operation, you simply can’t afford not to have all hands on deck. So while you absolutely need cover to protect your employees and other individuals, it’s also imperative to have cover for yourself as well. Unfortunately you’re not covered under your workers’ compensation policy, that’s just for the people you employ to work for you, so you’ll need to consider personal accident and illness cover. This covers you against any accidents that occur on or off site so you can rest your mind at ease knowing your business expenses will be covered, your bills will be paid and you’re still receiving an income if you sustain an injury that puts you out of work or has expensive medical costs associated with it.
All Trades Cover are specialists in all the insurance products tradesmen require. They understand your business and who and what you need cover for, so speak to our expert team today on 1300 826 850 to get a fast quote to protect everyone on your work sites.