Bricklaying is a highly skilled trade that plays a critical role in the building and construction industry. It may also be one of the most physically demanding of all trades. As the owner of a bricklaying small business it is important to remember and respect the risks that come with the job – as well as the risks that come with being the owner of your own bricklaying business.
Let’s look at some of the common types of business insurance for bricklayers that can help the risks to your bricklaying business, as well as some general tips that also may help bricklayers reduce their risks in a variety of ways.
Four types of business insurance bricklayers may consider
When you own and operate your own bricklaying business, managing and reducing your risk is something that you may benefit from keeping top of mind.
Here are four types of insurance that bricklayers running their own small business may consider as part of their risk management strategy.
Public Liability Insurance
Try as you may, accidents happen, and unfortunately they happen a lot more frequently than most of us care to admit. As the owner of a bricklaying business, accidents can spell major financial trouble for your business, whether it be a tradie tripping over your equipment or you accidentally damaging someone else’s property.
Public Liability Insurance covers legal fees and compensation costs if a customer, supplier, or member of the public makes a claim against you for injury or damage to their property. It’s worth noting that Public Liability coverage may be required if you intend to work as a sub-contractor or to lease commercial a warehouse or workspace.
Portable Equipment insurance
Given the number of often costly portable equipment that brickies rely on to deliver their work, Portable Equipment insurance is another common type of insurance that bricklayers may benefit from carrying.
This type of insurance can really come in handy and keep you on the job because it provides cover for loss and damage to a brickie’s tools and stock. Specifically Portable Equipment insurance provides cover for loss and damage to a bricklayer’s tools and stock, whether as a result of theft, fire, or other perils as listed in the policy wording.
Personal Accident and Illness Insurance
Being a busy bricklayer is certainly not without its risks. And given the strenuous nature of the work, it is certainly not out of the realm of possibility that brickies even the more safety-conscious bricklayers may occasionally succumb to accidents or illness due to their work.
This is where Personal Accident and Illness insurance can save you by covering your income and provide benefits if you’re unable to work due to illness or injury. Personal Accident and Illness insurance. For example, Personal Accident and Illness insurance may provide a weekly benefit while you recover from a serious injury or illness suffered during the course of your bricklaying work. This type of insurance may also be extended to include permanent disability.
Lastly, bricklayers may consider reducing their exposure to risk through a Business Insurance package, which can provide coverage for business contents, stock, tools and commercial premises when an insured event (fire, storm, theft or accidental damage) occurs.
The unique thing about the Business Insurance package option for your bricklaying business is that your cover can be customised to cater to your specific risk profile. In doing so, it can provide cover for your portable equipment, glass, and loss of revenue due to business interruption in specified circumstances.
Other potential risks for bricklayers
Longer sales process
Closing a large order with a new client doesn’t happen overnight; it can be a drawn-out process that requires patience and persistence. So it is important that you plan and predict longer conversion lead times and stay in regular communication with potential new customers you are trying to close.
The inconsistent nature of the work
From time-to-time bricklaying work can be sporadic. In times such as these it’s important to set boundaries and budget accordingly based on the amount of work you have coming in.
The challenge of small business ownership
Many bricklayers are self-employed, which means that they are responsible for all facets of their business. As a small business owner long-term success can often come down to how well you manage tasks and allocate your time. So have a plan to do just that.
The need for strict budgeting
As the owner of a bricklaying small business your income can be inconsistent. During quieter periods it is important to budget accordingly to avoid financial hardship.
The commitment needed to succeed
Starting and succeeding with your own bricklaying business requires no small amount of commitment, drive, and determination. All decision-making and responsibilities sit with you and you alone. This isn’t necessarily a bad thing, but it all comes down to how you manage it. If you let work take over your life it can put a lot of strain on everything else that you have going on, including relationships with friends and family.
When you own and operate your own bricklaying business, managing and reducing your risk is something that you may benefit from keeping top of mind. The reality is that bricklaying isn’t without its risks, but they are risks that can be reduced through insurance for bricklayers.
There are various types of bricklayer insurance available that can help bricklayers to actively reduce the risks to their small business, including Public Liability insurance.
As the owner and operator of a bricklaying small business, you are well acquainted with the risks of the job and how to reduce them. If you are reviewing your bricklayer insurance*, the Public Liability Insurance website can help you to quickly and easily compare quotes, select the insurance of your choice, and get on with your day. Call us on 1300 920 864 if you would prefer to purchase your insurance for bricklayers over the phone.
*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2022 BizCover Pty Limited, Public Liability Australia is a business name of BizCover Pty Ltd (ABN 68 127 707 975; AFSL 501769).