Insurance question

[Zumanity]

Hi guys and gals. Ive been doing a little bit of mobile welding for a while now and things are starting to ramp up a bit so im seriously considering pushing on with it a bit more seriously as an extra source of income on top of my regular job so my question is what type of insurance for this type of work would you recommend or even use yourself?
Most of my work involves repairing gates, trailer rust repair etc although no critical work.

Cheers

[KBs PensNmore]

Hi guys and gals. Ive been doing a little bit of mobile welding for a while now and things are starting to ramp up a bit so im seriously considering pushing on with it a bit more seriously as an extra source of income on top of my regular job so my question is what type of insurance for this type of work would you recommend or even use yourself?
Most of my work involves repairing gates, trailer rust repair etc although no critical work.

Cheers

The minimum I would go with is Public Liability $40 million+, and product liability. Public Liability to cover you in case you burn down a house, start a grass fire etc. Product Liability to cover a problem (if it causes an accident) ie trailer drawbar repair failing.
Another handy insurance, would be for your tools in the back of work ute van etc. against theft, loss etc.
Been there, done that.
Kryn

[Zumanity]

Thanks Kryn. How much per year would i roughly expect to pay for that type of cover mentioned? Obviously rough estimate is all im after at this stage before i start ringing around. Cant do a great deal right now being the long weekend etc

[KBs PensNmore]

Sorry can't help with prices as it was 10+ years ago that I had my business. Everything has gone up since then, I can't even remember what I paid back then. Just remember your home and contents insurance won't cover your equipment away from home.
Contact as many Insurance Co. that you can, as prices vary with what they will/won't cover. The public liability cover might seem high, but remember if a fire gets away, costs could even be over that amount.
A lot of places refuse to do onsite work, because of insurance costs.
Kryn

[Michael G]

And some places won't even let you on site unless they see your insurance certificates.

Michael

[Karl Robbers]

Find thee a good commercial insurance broker.
A good knowledgeable broker will be worth their weight in gold and will know the potential pitfalls and advantages of the multitude of policies out there and advise you on the best package to suit your business needs.
Apart from all the liability and tool insurances to be considered, make sure that you protect your primary income, which if I am reading your post correctly will not be derived from your welding sideline. If for example, you injure yourself in the course of carrying out your sideline activities and cannot attend your primary employment, you would want your income well protected.
While I have mixed feelings about unqualified of semi qualified persons hanging up their shingle as a welder, I commend you for going about it responsibly and getting your ducks in a row as far as insurance goes.
I reckon you will get quite a shock at the prices for your required insurances.
One final thought too. As a Person Conducting a Business or Undertaking, (PCBU), you will be subject to some pretty powerful Workplace Health and Safety legislation which I would strenuously advise you to familiarise yourself with.

[Zumanity]

Thankyou muchly guys! Karl, i have separate income protection insurance for my primary income in case something was to happen to me and will definently look into a quality broker in the coming days and will be sure to post the results of my dealings :)

[jatt]

If it gets bigger and you take somone on to help, more cost, BS and insurance crap to deal with.

Yeah a good insurance broker as previously mentioned is a goer here. Sorting out whats required and whats not can be a bit of a minefield.

Good luck with it.