Compare Public Liability Insurance for Carpenters

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Being a chippy and working for yourself means you can enjoy the many perks, like the flexibility of being your own boss and the choice of a variety of working environments, whether on large commercial worksites or domestic jobs. Win-win!

Just like any tradesman, being a carpenter has its own risks, but with the right framework you can protect your business from the start with the right kind of business insurance.

No matter how long you’ve been in the carpentry game, mistakes and accidents can happen to anyone. The financial side effects of a claim could be enough to demolish your business, one which you may not be able to rebuild again.

Don’t leave it to chance – give your carpentry business the protection it deserves with Public Liability insurance.

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Why Do Carpenters need Public Liability Insurance?

When it comes to protecting your business, Public Liability insurance is one of the most important types of cover. It’s designed to protect your business from financial risks if you are found liable for causing accidental injury to a third party or damage to their property.

Before you pick up your tools, take the time to consider your responsibility for ensuring the safety of your workspace and minimising the risks for any potential claims to occur. If you are found negligent, it’s not only your back pocket that you need to worry about, but the potential damage to your reputation too.

Public Liability insurance can cover the costs when you need to defend yourself against a claim for property damage or accidental bodily injury. It will also pay any settlements which may be awarded, so that you can get back to business without devastating financial consequences.

Keep in mind that if your business hires sub-contractors, it’s important to ensure that they have their own adequate levels of cover in place as they may not be covered under your policy unless specified in the policy wording.

 

Carpenter Business Risks

If you operate as a sole proprietor you can be held personally liable for accident, and risk that could cost both your business and personal assets if something were to go wrong.

Protect your carpenter business today.

Other Types of Insurance

Business Insurance

Insuring your assets and your business are a smart move for when those unwanted challenges crop up and cause havoc. Business Insurance can keep your business running, even when the tools are down.

Portable Equipment: your toolbox is a treasure trove of valuable tools that help get the job done. Can you imagine trying to get through the working day without them? The struggle suddenly becomes very real and expensive. Portable Equipment insurance can the costs of replacing your tools if they are lost, damaged or stolen, so you can keep calm and hammer on.

Personal Accident and Illness Insurance

As a tradie, your biggest asset to your business is your physical ability. Stop and think about how you would pay the bills if you were to injure yourself or fall ill which required taking off time to get well and recover?

Accidents happen to the best of us anywhere at anytime, even when you’re out playing a game of backyard footy on the weekend. Personal Accident and Illness insurance can assist while you’re temporarily out of action due to an accident or illness by paying a benefit of up to 85% of your income, with a benefit of up to $3000 per week.

Questions to Ask Yourself When Buying Carpenters Insurance

 

When working for under a contract or on a worksite, are you required to have a certain level of Public Liability cover?

Do you know how much your tools of trade are worth? Have you got cover for them if they were stolen or damaged?

Could you afford to take time off work to recover if you injured yourself or fell ill?

carpenter tools

How Do I Choose The Right Policy?

When considering a Public Liability Insurance policy it’s important to consider the risks your business is exposed to, as each industry and business can be vastly different.

Not all policies are the same either, with most being tailored to meet the needs of individual businesses. So it’s wise to get a number of quotes to compare the costs, as well as the level and types of cover offered by various companies. This way you can make sure that you will be covered for all eventualities and are not paying too much for the policy.

Publicliability-australia.com.au offers free multiple quotes from Australia’s leading insurers so you can compare policies without the need to ring around or visit numerous websites. With no tricky paperwork to complete you can get immediate coverage and your policy documents are emailed to you instantly.

How Much Cover Do I Need For My Public Liability Insurance?

Each business will also require a different amount of cover, typically anywhere between $5M to $20M. However, most small businesses opt for around $10M. When deciding on a policy you should ask yourself the following questions:

  • Do any of your contracts require a minimum level of cover?
  • Has your industry body set a minimum level of cover for membership?
  • Does your business or trade license require a minimum amount of cover?
  • Do the terms of your lease require a minimum level of cover?
  • Finally, think about what your level of risk and exposure could be. What kind of accidents could occur and what could be the potential cost of a claim?
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