When life takes an unexpected turn, your ability to earn a steady income can be put at risk. For small business owners, sole traders and contractors who may not necessarily have the same protections as salaried employees, like paid sick leave, annual leave, or workers compensation, which can lead to a significant financial strain.

If you work as an independent contractor or subcontractor in the construction industry, you will know there can be many risks involved. Let’s delve into a range of common business insurance options to help you understand how to cover the risks that come with these roles.

Choosing to become a contractor and operate as an independent contractor instead of as an employee of a business or organisation in a traditional sense generally requires that you are very good at what you do. After all, a contractor who isn’t an expert in their field and who can’t demonstrate a proven track record when interviewing for a new contract position may well struggle to find their next contract gig.

If you are looking at expanding your workforce by hiring contractors to help out, it’s a good sign that your business is growing and ready to reach new heights! The process of hiring contractors involves a bit of research and preparation to ensure that you hire the right people for the job.

Handyman, handywoman, tradesperson, jack-of-all-trades. Whatever you choose to call yourself, a handyman works across different homes, shops and job sites, which means the risks change almost every day. Even simple tasks can lead to unexpected accidents or damage. Insurance claims in this space often follow familiar patterns and understanding them can help you manage your own risks more effectively.

Freelancing gives you flexibility, control, and independence. It also means you carry the risk yourself. Many freelancers only realise this after something goes wrong. A client dispute, a damaged laptop, or an injury can quickly turn into lost income and unexpected costs.

For many business owners, business insurance can be a bit of a head-scratcher. Do you need it if you work from home? What’s the difference between Workers’ Comp and Personal Accident & Illness insurance? How much cover is enough, anyway?

Regardless of the industry or type of small business you run, business insurance can play an critically important role in reducing your risk, which will help to sustain your business for the long-term. Business insurance such as cleaning company insurance – also sometimes known as housekeeping insurance – helps protect cleaning business owners from unforeseen incidents and accidents that may reduce their capacity to run their business.

Tradies are often exposed to high-risk scenarios so it’s critical that you take the necessary safeguards to maintain your safety while on the job. There are a few easy measures you may employ to lower your risk of an injury whilst on the job, which can have major physical and financial ramifications.