Essential Income Protection Insurance for Roofers in Australia

Roofing is widely recognised as one of the most hazardous professions in Australia. The risks associated with working at heights, handling heavy materials, and exposure to the elements make it a job with a high potential for injury. For roofers who are sole traders or directors still on the tools, income protection insurance is not just a safety net—it’s a necessity.

Roofing is hard work and it’s risky business. You’re up there, day in, day out, and it only takes one slip for things to go south. The building game, especially roofing, is right up there with the most injuries that occur on the job. That’s why having a backup for your income is a smart move. Income protection is like your safety harness for your wallet – it keeps you covered when you’re laid up and can’t work.

While workers’ compensation is a vital part of your suite of insurances, it has its limitations. Coverage for working directors can vary across states and territories, and in some cases, directors may not be covered at all.  The Financial Impact of a Claim When a roofer is injured, the financial implications extend beyond medical bills. The loss of income can be devastating, especially for sole traders who rely solely on their ability to work to support themselves and their families.  If you run a small business and need to make a workers’ compensation claim, it’s likely that the cost of your insurance will go up next year. This can be tough because the insurance for workers’ compensation is already a big expense for small businesses. It’s important for small businesses to be aware of this potential rise in expenses following a workers compensation claim claim.

Income protection insurance provides a more comprehensive solution. It covers up to 70% of a roofer’s income if they are unable to work due to illness or injury.

Understanding income protection insurance can be tricky. That’s why getting help from an insurance advisor is so important. They can create a policy that fits exactly what a roofer needs, considering things like how long you wait before the policy pays out and how long you’ll receive payments. Plus, they’ll make sure this policy works well with any workers’ compensation insurance you already have, giving you a strong backup plan.

For roofers in Australia, income protection insurance is not just about safeguarding against the financial impact of an injury—it’s about ensuring the continuity of their livelihood.

With the guidance of an advisor, roofers can secure the coverer they need to protect themselves, their families, and their businesses. While workers’ compensation is a critical component of workplace safety, Income protection insurance offers a more reliable and comprehensive form of coverage for roofers, making it an essential consideration for those in the industry. Engaging with an insurance advisor to obtain the right income protection insurance can make all the difference.