Insurance rests on a promise, and it’s why many people do not understand its significance. It is not a tangible product but financial protection against risks or losses that may occur to your property, life, or business. Tilers are known to elevate a property’s aesthetic value by laying tiles on floors, walls, and ceilings to increase its curb appeal. Would a tiler need insurance protection?
Besides creating a smooth and attractive surface, a tiler needs to have the right and appropriate insurance to protect them from various risks attached to their work. A tiler may consider the nature of their work safe, making many of them not focus on acquiring insurance. Since accidents and unforeseen events occur to even the most careful tiler, the following reasons depict the importance of tilers insurance:
1. For continuity of the tiling business
The majority of insurance companies will rush to give you tilers public liability insurance. As much it is a robust insurance solution, make sure you take your time and have a one-on-one with the insurance company before making concrete decisions. Ensure to go for the best tilers public liability insurance that covers anticipated financial losses.
2. Tilers public liability
Your tiling activities can result in personal injury or property damage since tilers are human beings and are prone to err. It can lead to injuries, property damage, or death. If these losses occur within your business premises, you need to have the right insurance cover. It is essential to cover yourself from lawsuits that may result in your business’s closure or becoming bankrupt. The right public liability insurance takes care of the legal fees and damages to the limit of your policy.
3. Tools insurance to protect your collection
Having the right working tools is not an easy task to achieve. Having the proper selection of tools and equipment requires sufficient investment and can drain your finances. Once you have a collection of the big-ticket items, you need to protect them from theft or damage. The loss of essential equipment can result in low productivity, which is not suitable for your business. Take the right tool insurance cover for protection in the event your tools get stolen or damaged.
4. Workers compensation
Insurance should take care of your business and its employees. They play an integral role in the running of operations. Workers’ compensation protects your employees if they may be injured on the job and cannot continue working. Workers’ compensation is managed differently depending on the state you are in. The government agencies with the insurers have come together to provide the best platform for employees to benefit from the workers’ compensation.
5. Income protection
Self-employed individuals do not have access to worker’s compensation or sick leave. Income protection is the best alternative to cover their expenses when unable to work. A tiler may be injured while working as a subcontractor or the business owner; they require income protection insurance to take care of their expenses during this time. For a tiler to work effectively, they need all their body parts in the best condition. The nature of their work can easily result in injuries, making income protection a necessity.
6. Transfer of risk
Insurance companies have different policies for their customers. Roof tilers are at a higher risk compared to wall and floor tillers. It is due to the increased risk of fall injuries they are exposed to. It does not mean they should pay higher premiums, but there is a slight difference in premiums for the income protection depending on the height the roof tiler is working at. In case of a fall, you do not need to worry about reimbursement since the insurance company takes liability.
7. Family and business stability
The tiling business may not be a high risk one, but having the right insurance is critical for your activities’ smooth running. The risks involved may seem meager, but their effects may be the end of your businesses. For your tiling business to be successful, you would be better safe than sorry. Take your time to research the top insurance companies available and compare their costs to what you can comfortably afford. Save your tiling company the stress of dealing with unnecessary claims that insurance companies can easily handle. Spare your family and loved one the peace of mind.
Autobiography
Eric Reyes is a passionate thought leader having been featured in 50 distinguished online and offline platforms. His passion and knowledge in Finance and Business made him a sought after contributor providing valuable insights to his readers. You can find him reading a book and discussing current events in his spare time.