While some of us might hope to win the lotto, two Canadian plumbers couldn’t believe their luck when they happened across a gold bar while working in a client’s home. In case you’re wondering what they spent the money on, the honest tradies handed their prize straight over to their clients.
Striking gold on the job
The New York Daily News recently reported on a story where a pair of plumbers found a gold bar the size of a mobile phone while renovating a bathroom. The gold bar was worth $40,000 and was found buried under a spa. The homeowners apparently stored their gold beneath the spa for safekeeping (as you do) and one of the gold bars had become buried due to the vibrations of the spa.
Although some of us might have considered using the gold for a lavish holiday or expensive car, the two tradies didn’t give the matter a second though and simply handed it over to the owners of the house. They didn’t receive a tip for their troubles but at least they have a great story to tell!
Cover yourself financially
When it comes to covering yourself financially as a plumber, you can’t rely on finding bars of gold while on the job for a financial safety net. The best thing you can do to protect yourself is have the right insurance package in place to cover areas of risk.
As a plumber, there are a number of insurance policies which may be right for you.
Public liability insurance – Liability cover protects you from financial loss if you cause damage to property or injury to a person. It covers you if you’re found liable following a claim for damages and for any legal bills.
Personal accident and injury cover – If you’re suddenly unable to work due to injury or illness, personal accident cover provides you with a percentage of your normal income until you’re able to return to work. This is particularly important for plumbers who are self-employed as being off work can mean you have no other source of income.
General property cover – General property cover protects you if the items you carry around with you, such as tools and other equipment, are lost, damaged or stolen. Plumbers are usually required to travel to different jobs and you probably have some expensive gear in your work car which is why you need to have cover in place.
Life insurance – In the event of your death, life insurance provides your family with a lump sum payment which they can use however they want. This ensures that your family are taken care of financially and won’t suffer from financial hardship.
Workers compensation insurance – If an employee is successful in their compensation claim, worker’s compensation insurance will reimburse you for any ongoing payments you’re required to make such as wages or medical bills. This cover is compulsory if you have employees working for you.
To discuss plumbing insurance for your small business, contact All Trades Cover today on 1200 826 850 and we’d be happy to help, or get a quick quote today!