Don’t Start Your Own Business, Until You Read This!
15 Jan 2021
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Starting your own business is an exciting venture... but you’ll want to do it properly!
In the trade industry, becoming a subcontractor or small business owner is a popular career move and can be very rewarding. However, starting a business is no small feat and you’ll want to be prepared.
If you are thinking of starting your own business, insurance is a must.
Whether you are an electrician, plumber or carpenter, starting your own trade business already comes with risk... so it doesn’t make sense to put yourself in a riskier position. Getting insured is the only way to ensure that you will be financially covered should the unexpected happen that you are liable for.
Insurance can be a tricky field to navigate, so we’ve broken down the essential policies that you should be aware of for your new trade business...
One of the most important types of insurance for any trade business is Public Liability Insurance.
Essentially, this policy will cover you financially should something happen on site that affects other people or their property, namely injury or damage.
Check out our blog for more information on What is Public Liability Insurance and Why Every Tradie Needs it!
Also known as Injury and Illness Protection, Income Protection Insurance and Self Employed Income Protection is all about ensuring that you are protected in the event that you find yourself unable to work.
Being a tradie comes with inherent risk on the job and with this insurance, you can rest easy that you will still have an income should you fall victim to an accident or sickness.
You can read up here on How Income Protection Supports Tradies.
This insurance is all about covering the things that you use to do your job. Looking into Tool Insurance and Trailer Insurance is a necessary step when you are in the early stages of starting your business.
If you use tools or a trailer to do your job, this policy will get you back to work fast should they be affected by fire, flood, accidents, theft or vandalism.
Contract Works Insurance will cover the building that you are working on while it is being built.
This generally will cover any loss or damage caused by external factors while work is being done.
To know exactly what you need for your new business, and to what extent you should be covered for, it’s best to talk to the experts. At Tradesure, our team is well equipped to help you figure out the best policies for you and won’t be shy when it’s time to make a claim.
Contact Us today or get a free online quote now!
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