When it comes to building and creating quality pieces of craftsmanship, cabinet makers know a thing or two. This highly skilled trade involves having an eye for detail, with precision and creativity learnt over time. Building custom cabinets for kitchens, bathrooms, bedrooms and beyond, your clients hold high expectations for getting the job done right. But what happens when things don’t go to plan?
The reality is cabinet makers are faced with risks every day. Having the right types of insurance in place to protect your cabinet making business is a solid investment, protecting not only your finances but your reputation too.
Let’s take a look at some of the different types of business insurances for cabinet makers to consider.
Starting with the basics: Public Liability insurance
One of the fundamental types of cover cabinet makers need to look at is Public Liability insurance*. It is designed to provide protection for you and your cabinet making business if a customer, supplier or a member of the public brings a claim against you after they are injured or sustain property damage as a result of your negligent business activities. Additionally, it will also cover legal fees and compensation costs associated with that claim.
The financial consequences of a claim can have a significant impact upon your cabinet making business, one which you may not have had the time to consider. Even if you are not found to be negligent, the associated defence costs can hit the hip pocket hard.
As with many trades in Australia, it may also be a legal requirement to have Public Liability insurance in place before you undertake a contract or step on site.
Protecting your most valuable asset
No matter how much care you may take to look after your health and wellbeing, the truth is accidents can and do happen, anywhere, anytime. Accidental injuries can occur while on the job fitting out a kitchen or even playing a game of footy in the backyard on the weekend.
The trade of cabinet making is a physical one, which requires a level of fitness to do the job right– so what would happen if you were injured or fall ill, and unable to work? How would you bring home the bacon, especially if you are self-employed?
With no paid sick days, the struggle of being off work to recover while trying to earn an income is a situation no one wants to find themselves in. This is where Personal Accident and Illness insurance can provide some reprieve when you need it most.
Personal Accident and Illness insurance* can provide different levels of cover for loss of income if you are unable to work as a result of an unexpected injury or illness and benefits if due to injury you become permanently disabled or evenpass away (even if the incapacitation occurs outside of your employment). It means you can concentrate on your recovery and still be able to put food on the table without having to worry.
Cover for Portable items
Over time you have probably built up a collection of tools that you rely on to help carry out your trade, so if they were lost or stolen, how would you be able to keep working?
From drills and clamps to mobile phones, your tools of trade are vital to the operation of your business. Even though you may take the right steps to secure them, tools can still get stolen from work sites, creating an added expense you could do without.
Portable Equipment cover (also known as general property insurance) can provide protection by insuring specified items such as tools, business equipment or electronic items against loss and damage.
Explore your insurance options
At BizCover we help you as a cabinet maker to find insurance options that protect your business for when you need it most. We work with some of Australia’s leading insurers and can provide quotes in minutes.
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.