Life as a roofing contractor means there's no such thing as business hours, and working weekends is the norm. But while you're busy taking your business to new heights, sometimes all it takes is a small mishap or oversight to make everything quickly plummet. Whether it's a small mistake on your part leading to damage to a client's house; or having your tools stolen, suffering an unfortunate event can take its toll on your finances (and life).
Insurance is therefore an important consideration for roofers to help ensure that you're able to get back on your feet quickly if your business experiences an incident. Without appropriate insurance in place, if you find yourself experiencing a theft, or being held accountable for damage as a result of your work, you may have to end up selling your assets or going into debt to navigate your way out of the challenge.
As a roofer, you face a unique set of risks in your line of work. There are several insurance policies available to address the risks you face, and understanding the cover under each can help make sure you can make an informed decision about how to protect your business. Tradies Insurance (or Tradespack) combines Public & Products Liability Insurance with cover for your tools, equipment & machinery. Public Liability Insurance covers you and your business if you’re held responsible for injury to a third party during the course of your work, or if your business activities cause damage to someone’s property. If a claim of injury or property damage is brought forth against you, the impact on your finances can be very draining.
Public Liability helps by covering the cost of legal fees you incur in defending yourself, as well as compensation you may be required to pay in these instances. Depending on the sites you work on, some clients may even require you to hold this cover before they let you start on the job.
Under Tradespack, you can also choose to take out cover for your tools, equipment and machinery. This is an optional extra, and is designed to cover tools you might use as to run your business.
At HIA Insurance Services, we have worked with industry experts to deliver a Tradies Insurance package that caters to the specific risks faced by Roofers in their everyday job. The Tradies Insurance we arrange includes the following cover benefits:
Bob was a roofing contractor who took great pride in his work. He was hired by Sam to repair her roof. In finishing the job, Bob incorrectly joined one section of the roof. A few weeks later, during some heavy rain, that section of the roof leaked, leading to damage to Sam’s house. Bob was held liable for the damage to Sam’s house as the section was not joined correctly. The damage cost $7,000 to repair, which was covered under Bob’s Public Liability Insurance.
*Subject to the policy terms, limits and exclusions
© 2021 HIA Insurance Services Pty Ltd (ABN 84 076 460 967) is an authorised representative (no.275925) of Aon Risk Services Australia Limited (ABN 17 000 434 720 AFSL 241141) (HIAIS).
The HIA Insurance Services Tradies Insurance (Trades Pack) policy is arranged by HIAIS under a binder agreement on behalf of the insurance issuer, QBE Insurance (Australia) Ltd, ABN 78 003 191 035, AFSL 239545. When acting under a binder we will be acting as agent of the insurer and not as your agent. Our binder arrangements with the insurer are such that we remain your agent in the handling of any claim. If you purchase this insurance through HIAIS, HIAIS will receive a commission that is a percentage of the premium. Further information can be found in HIAIS’ Financial Services Guide or provided upon request.