If there's enough work going around, tradies can usually rely on a steady income to meet all their expenses as well as extras like holidays or that new car you've been eyeing off. But how would you cope financially if you were suddenly unable to work after accident or illness? This is where Personal Accident and Illness Cover comes in.
Preparing for the Unexpected
An accident or illness is usually the last thing on our minds but, unfortunately, all too often people find themselves in a situation where they’re suddenly unable to work. This is especially the case with tradies as the hands on nature of your work can often leave you at higher risk of something going wrong. If you’re self-employed as tradie, being unable to work it could mean that you struggle to meet financial obligations and day to day living expenses as you lose your only source of income.
Even if you’re employed, your personal leave will only last so long and may not be helpful if you’re not able to return to work for some time. If you have a family who relies on your income, it’s even more reason to consider covering yourself for the unexpected. Just remember you are unable to claim on both Workers Compensation and Personal Accident and Illness Cover at once. It’s best to speak to your broker about the specifics of how this will work for you if you are an employee.
Personal Accident and Illness Cover is a way to make sure you’re protected financially if you’re unable to work due to accident or illness. This cover means that a percentage of your income is provided to you until you’re able to return to work or for the length of your policy. This means that you can continue to meet any financial obligations and ensures you don’t find yourself in a situation where you’re forced to return to work earlier than you should or place yourself under financial stress. Remember, your policy will specify the types of injuries or illnesses that will result in cover and it’s best to speak to your insurance broker if you’d like something specific included.
Make Sure You're Covered
If you’re in a situation where you can’t work due to accident or illness, remember that you could be unable to return to work for weeks or even months. If you think about how you would cope financially for this length of time and how many expenses can arise, you can clearly see why Personal Accident and Illness Cover is an important consideration. Have a chat to your insurance broker about the options available to you and they can help you find a policy that best suits your needs.
As a tradie, it’s important to get insurance through a company who understands your specific requirements. All Trades Cover provide insurance solely to tradies which means we have huge group buying power. This means that not only do we provide a competitive price, we also ensure the wording of policies suits the needs of tradies.
To discuss Personal Accident and Illness Cover or for any other questions about your insurance, contact All Trades Cover on 1300 826 850 today. For a hassle free quote, you can also fill out our easy online form.