A Painter’s Business without Insurance! A Risky Venture!
Building painting services are gaining demand in a business-oriented city like Melbourne. Painters can be a part of a construction company, a subcontracting company offering services in building renovation and painting or a corporate company having its own department. With an intended increase in investment for infrastructure and development in Melbourne in the coming years, there is an expected demand in renovation and remodelling of existing structures to keep in line with the latest infrastructure. Therefore, it will create a number of opportunities for trades in the painting industry, business in painting services or Painters Insurance company startup to protect painters and painter service providing companies from potential risks.
An insurance plan is generally a promising small investment in one’s life to cater to the needs that may arise as a result of an unwanted situation and it becomes crucial for businesses because they are liable for hefty penalties legally under public protection laws in case of any loss to the public either in a personal capacity or a damage of asset. Hence it can be a frustrating experience for small companies or freelance tradies in the trade service business in case of a loss of customer if they have not covered themselves with a kind of general liability insurance. Therefore, a slip of a painter’s ladder causing an injury to a person or a pet or damaging the floor tiles or walls of that customer will make that trade or company legally liable to cover the damage and in an expensive city like Melbourne, if a general liability insurance plan is being used by the company or provider, it will just be a walk in the park experience. Otherwise, it will lead to a blood-curdling experience by paying a hefty fine. So having a painter’s public liability Melbourne is as important as starting the business because there is no excuse to a loss of public and it is entirely service provider company’s responsibility to balance the customer’s loss caused by its people or tools.
In addition to painters, insurance and public liability, these service provider companies might also need to have other coverage plans to protect themselves from losses to their assets as well as to others because of them. For example, a contractor using commercial trucks and vans to commute from one place to another for completing the work can anytime face a situation of a road traffic accident causing an injury to a person or damage to another vehicle. This can lead to making the contractor liable to pay for the repair of a car or hospital expenses of the injured as a penalty which can be as much as thousands of dollars because health and car maintenance are one of the most expensive services in Melbourne. In this case, having commercial auto insurance can also work as a rescue tool because general liability insurance won’t cover for the loss if the vehicle is being used for commercial purpose. In addition to this, worker compensation insurance might be needed depending on the case of a company.
So the bottom line is, starting a painter’s service Business Or Freelancing as a tradie painter is never going to be a downhill task but it can be well managed by using a painters insurance plan through contacting different companies offering painters public liability Melbourne.
Therefore, adding an expense of 400-800$ for CGL and 750-1200$ for commercial vehicle insurance or need-based necessary insurance to initial plan can be handy and if executed well, it can lead to a life-changing opportunity and later on one might feel proud of his decision to get into this business.