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Why do roofing contractors need insurance?
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.
What Insurance do Roofers need?
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.
Insurance products for Tradies
Tradies Insurance
Specialist cover for tradies seeking to protect their business (please note your subcontractors are not covered by this policy)
Features
Get a quote and purchase online
Provides cover for business owner and employees
Low excess amounts
Construction Works Insurance
Insuring against loss or damage while undertaking a construction project.
Features
Material Damage and Public & Products Liability cover
Two levels of cover to suit your business’ needs.
Existing structures cover
Cyber Insurance
Protecting your business from a range of cyber related risks as the construction industry becomes increasingly technology driven.
Features
Access to your own incident manager
Can cover loss of profits and expenses related to cyber incident
Can provide cover for cyber losses claimed by your clients
Office & Workshop Insurance
Protect your office against loss or damage with Office & Workshop Insurance
Features
Combining a number of coverages for your office and business under a single policy
Add or remove sections of cover depending on your needs
Access to a dedicated broker
Workers' Compensation Insurance
Covers your workers if they have been injured during the course of their work
Mandatory Insurance provided by employers for workers
HIA Insurance Services can assist businesses in WA, SA, ACT and NT
Provides workers with a range of support to help them return to work
What are the benefits of Trades Pack Insurance?
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:
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Cover is easy to obtain using our online portal
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It provides cover for both roofers and their employees
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Optional tool cover can be added to your policy.
Case Study
Case study
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.
Why HIA Insurance Services?
HIA Insurance Services (HIAIS) combines the construction industry expertise of the Housing Industry Association (HIA) with the risk and insurance knowledge of Aon to provide products and advice that are specific to the residential construction industry.
We arrange insurance policies that are suited to the unique risk exposures faced by roofers by offering roofer public liability and professional indemnity insurance, among other useful business insurances. As one of the largest and most experienced insurance brokers in the country, HIA Insurance Services can arrange insurance policies tailored to the needs of roofers and other construction industry trades, as well as pursue fast and hassle-free claims processes.
Yes you can, monthly payments can be arranged through a premium funding agreement with Hunter Premium Funding2 to help you spread the costs of your insurance across the year. Please note that the total overall cost is higher if you pay monthly. Contact HIA Insurance Service on 1800 762 878 to find out more information.
Tradies Insurance does cover your employees1, however it does not act as a work cover policy should one of your employees be injured during the course of their work. For information on work cover, you can visit the Workers’ Compensation page of our website.
No, subcontractors need their own policy as they are not direct employees.
Your tools are covered provided that you have taken out optional cover as part of your Tradies Insurance policy1. Optional tools cover can provide cover for theft or any attempted theft following forcible entry.
Yes, but there must be proof of forced entry into the vehicle, such as a broken window, damage to door locks, etc.1
Registered trailers are not covered under the Trades Pack policy and require a separate policy. Contact HIA Insurance Services for a quote.
When purchasing your insurance, you are required to tell your insurer everything they need to know so they can assess your level of risk accurately. You may therefore not be covered for any work you do not disclose to HIA Insurance Services which is not related to your occupation. Please contact HIA Insurance Services if your occupation has changed.
No, Tradies Insurance isn’t sufficient for a builder because it covers one trade only. You will need to consider taking out a Construction Works Insurance, Public & Product Liability policy
*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.