• 5 Reasons Why Insurance is Beneficial for Roofers
  • There are the obvious reasons why insurance is beneficial to tradesmen and roofers such as coverage if something goes wrong and mandatory requirements by regulation, however we have collated some other important reasons why you need to consider insurance for your roofers business now.

    1. Protecting Your Business Reputation

    Your reputation can mean the difference between a client choosing you or your competitor. And if you don’t have the insurance in place to provide backup for your business in the form of Public Liability Insurance, then your reputation as an organised and caring business can be shot. Public Liability Insurance protects your back pocket against third party claims too. If someone is injured or ill as a result of your work, or if you damage third party property – this insurance makes sure you can pay for replacement, repair, or medical expenses.

    2. Protecting Your Employees

    The same goes for Workers Compensation Insurance. It can be very difficult to hire good staff or anyone for that matter if you don’t have Workers Comp in place. In fact it’s mandatory to obtain this type of insurance if you have employees or apprentices working for you in order to ensure you can pay for any compensations should they fall sick or injured as a result of work for you. If you don’t, say goodbye to your good reputation as an employer.

    This type of insurance protects your employees in the case they do get injured or ill due to your direction and will pay for their medical bills, rehabilitation, or loss of income should something happen. It is also law and regulated by Work Cover. If you don’t have Workers Compensation Insurance in place you can face investigation and penalties.

    3. Protect Your Finances And Assets

    Insure your roofers business properly and you will make sure that your assets and personal finances are protected. Insurance such as Personal Accident and Illness cover can make help with making sure you have a form of regular payments should you get ill or injured and be unable to work. And Tool Insurance will help make sure that your equipment and tools are covered and able to be replaced should they be lost, stolen, or damaged.

    These things can put you well out of pocket and its best to be covered to the correct amount and full replacement value of tools so you can continue to work and don’t lose business.

    4. Avoid Penalties

    As mentioned briefly above, you can face severe penalties for not having Workers Compensation Insurance in place if you are caught by government. You will risk being investigated by Work Cover. And when it comes to Public Liability, although no government bodies will regulate this, you face not being allowed on work sites due to contractual obligations or being turned away from jobs due to lack of cover.

    5. Peace of Mind

    Overall the purpose of a good insurance policy is to ensure that you are covered correctly, to the correct amount and not under insured or over-insured for things you don’t need. A good insurance policy can protect your from the financial implications of claims and legal action against you which you would otherwise not be able to face alone. Giving you the peace of mind to work in confidence.

    If you need an instant insurance quote for your roofers business you can get one by visiting the All Trades Cover website. If you are unsure which insurance you might need for your business, contact All Trades Cover today and we will be more than happy to help you set up your policies. Or give us a call at All Trades Cover on 1300 826 850 to speak to a friendly expert. All information provided above is of a general nature, if you need specific advice we recommend speaking to a broker.