December 21, 2016
This is a common question. Sometimes as a tradie, you will work for long periods under the one principal contractor. This could be a builder, for example, or a leading hand of a particular trade – say a brickie or a sparkie.
Working for the one person – your boss, effectively – can give the impression that they cover you. With regards to some insurances – Workers Compensation, for example – you may well be deemed an employee by the State Government, and the principal contractor will have to cover you for injury on the job.
Unless you’re on working for wages – getting super, leave entitlements, etc. – you’re not an employee. Operating off your own ABN means you’re effectively your own business. This makes you responsible for your own work, and in turn, your insurance.
In today’s society, lawsuits for damages and compensation are becoming commonplace. The last thing you want is to get accused of negligence on a job, and have to pay for your own defence. This could cost tens of thousands of dollars.
The main cover to consider with Contractors Insurance is Public and Products Liability. Operating without it in this example could land you in hot water if something goes wrong on a job. In addition to this, you can even get dragged into problems that other subbies cause on a job.
If you don’t have Contractors Insurance in place, you could be footing a costly legal bill out of your own wallet. There goes that Bali trip.
Other important considerations for subbies include Income Protection and Tools of Trade Insurance.
At Go Get Insurance, we can help you with all three.
If Contactors Insurance is something you need assistance with, take a moment to go through our easy-to-use online quote process. It’s quick, easy, and affordable – that’s what we’re all about at Go Get Insurance.