Business Insurance for Bricklayers

Being properly insured could help to give you peace of mind, so you can concentrate on building your business (pun intended).

This article will run you through some of the Business Insurance products that could be of use to bricklayers. We’ll give you an outline of Public Liability Insurance, Portable Equipment Insurance, Tax Audit Insurance, and Personal Accident and Illness Insurance. Although this article may give you some handy tips on what to look for in Business insurance as a Brick layer, it is important to read through any policies Product Disclosure Statement before making any purchasing decisions.

Public Liability insurance

Put simply, Public Liability Insurance generally cover you if a third-party claims that your negligent business activities caused them injury or property damage. This includes defence costs cover.

What’s typically included?

Compensation for:

• Personal injury suffered by a third party (e.g. a customer, supplier or member of the public);
• Damage to property owned by a third party due to your negligent business activities; and
• Legal and defense costs associated with a covered claim.

Many public liability policies also provide cover for product liability.

What’s typically not covered?

Compensation is not covered for:

• Injuries to your employees;
• Damage to your own property;
• Costs of rectifying faulty workmanship;
• Professional negligence;
• Contractual liability; and
• Events occurring before or after the policy period.

It’s important to check individual policies for inclusions, exclusions, and terms and conditions.

‘Negligent business activities’ sounds like it refers to seriously dodgy practices. The truth is, it could be as simple as dropping a brick and damaging an expensive terrazzo floor, or somebody’s foot. If this happens, your business might be held responsible, and depending on the damage done or injury caused, it could get expensive. So, for bricklayers, Public Liability Insurance could be worth considering.

Portable Equipment insurance

As a bricklayer, getting Portable Equipment Insurance (also known as general property insurance) maybe something you have thought about to give you extra peace of mind if your tools might be exposed to damage or loss.

Portable Equipment Insurance maybe able to cover specified items such as tools, business equipment or electronic items, or unspecified items of lower value. You may be looking to choose a comprehensive policy, which may include accidental damage to your equipment, or an insured events policy, which includes events like fires, theft by forcible entry, explosions or storms.

What’s typically covered?

Compensation for:

• Accidental damage;
• Loss or damage caused by fire, storms, water, explosions, impact or malicious damage;
• Collision or overturning of the conveying vehicle;
• Theft following forcible and violent entry to locked vehicles or locked buildings; and
• Theft of equipment securely attached to a vehicle by locks or padlocks.

Specified portable equipment may include items such as:

• A mobile plant;
• Photographic or video equipment;
• Mobile communication equipment, including telephones and radios;
• Electronic equipment, including computers, diaries and GPS units; and
• Accessories for the items listed above.

What’s typically not covered?

Loss or damage to your portable equipment that is caused by:

• Wear, tear or gradually developing conditions;
• Cracking, scratching, marring or breakage of glass or fragile items or surfaces;
• Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution;
• Any process of heating, drying, cleaning, dyeing or alteration to any insured item;
• Faulty materials or workmanship;
• Theft by employees; and
• Unexplained inventory shortage.

Portable Equipment Insurance may be worth considering for bricklayers, particularly if you often have expensive tools and equipment secured, but not necessarily in sight when you’re at work.

It’s important to know that individual policies will vary and terms and conditions on the cover will apply. So, check before you insure and if something’s not clear, ask.

Tax Audit insurance

Tax Audit Insurance covers a business for specified costs in the event that it is selected by the Australian Tax Office for auditing. This benefit may cover for the costs of accountants and other nominated professional fees incurred in the course of an official tax audit.

What’s typically included?

• Accountants’ fees;
• tax agent fees; and
• limited other professional’s fees incurred to responding to a tax audit.

What’s typically not covered?

• Fines or taxes imposed;
• Your time or salary or lost opportunities; and
• Your employee’s time or wages.

Personal Accident and Illness insurance

Bricklaying is a physical job, so an accident or illness could prevent you from working. Worst case scenario – your income dries up, but, the bills keep coming in.

If the unexpected does happen, Personal Accident and Illness Insurance may cover your income and provide benefits for permanent disability and even death if you’re unable to work due to illness or injury. So, if you can’t work due to sickness or injury, it may allow you to focus less on lost income and more on getting back to feeling your best.

What’s typically included?

• Loss of income as a result of an injury;
• Loss of income due to illness; and
• Loss of income because of injury or illness (combined).

Optional extensions can sometimes include:

• Death benefits;
• Disablement benefits; and
• Business expenses.

What’s typically not covered?

An injury or illness that is the result of:

• Pre-existing conditions;
• Pregnancy and childbirth;
• An act which is intentional, criminal or caused by you;
• Alcohol or drugs;
• Professional sports; and
• Motorsports.

Again, as with all insurance, it’s important to check the terms and conditions of your policy, and make sure you’re suitably covered.

If you’re a bricklayer, iSelect and BizCover are here to help

iSelect has partnered with BizCover to do the heavy lifting. Click here to compare a range of Business Insurance products online with BizCover today.