You must have excellent customer service, technical skills, professional employees, and the right plumbers’ insurance to run a successful plumbing business. An important aspect of plumbing insurance that is sometimes overlooked is workers’ compensation insurance. Learn how to navigate worker’s compensation insurance for plumbing businesses.
With so many health and safety risks in the plumbing industry, your Workers’ Compensation insurance must provide you with the correct level of coverage. Having the necessary protections against illnesses or accidents in the workplace protects your plumbing business against losses to your assets and liabilities.
What is Workers’ Compensation Insurance?
Fair Work Australia says, “Workers’ compensation is a form of insurance payment to employees if they are injured at work or become sick due to their work.
Workers compensation includes payments to employees to cover their:
- Wages while they’re not fit for work,
- Medical expenses and rehabilitation.”
Workers’ compensation insurance provides financial assistance and medical benefits to employees who suffer work-related injuries or illnesses. This workplace insurance also protects employers and employees to ensure employees receive the necessary support and can achieve a timely, safe return to work. Workers’ compensation in Australia can include:
- Death benefits to surviving dependents,
- Disability benefits,
- Medical benefits,
- Rehabilitation services, and
- Wage replacement.
Across Australia, workers’ compensation covers any business with employees under oral or written contracts, including full-time, part-time, or casual workers. However, workers’ compensation requirements can get confusing because government-run initiatives vary between states and territories.
Access more information about Workers’ Compensation Insurance for your state or territory:
- ACT: WorkSafe ACT
- NSW: State Insurance Regulatory Authority
- NT: NT WorkSafe
- QLD: WorkCover Queensland
- SA: ReturnToWork SA
- TAS: WorkCover Tasmania
- VIC: WorkSafe Victoria
- Western Australia: WorkCover WA
How to determine the appropriate Workers’ Compensation Insurance coverage
When organising workers’ compensation coverage for your plumbing business, it’s essential to understand who you should cover and who is considered a worker. You will also need to assess the needs of your business, including the type of work performed, any associated risks of the work and the number of employees you have.
Atlantic insurance brokers can help you determine your plumbing business’s best workers’ compensation coverage. However, if you are a sole trader, director, or partner of your business, you are considered a trustee, and you can take out Personal Accident and Injury cover instead.
What does premium management cover?
Premium Management coverage ensures that an employer is billed the correct premium and that all factors are included in the premium calculation. It also guarantees that coverage is reviewed regularly and adjusted as required. Atlantic Insurance premium management strategies mitigate claims activity as this has a future impact on premiums. Our insurance brokers can advise you on steps to implement safety programs, including regular health and safety training that emphasises accident prevention.
Return to work programs after work-related illness or injury
Part of your responsibility as an employer is to have return-to-work programs in place that can be implemented when a worker is returning to work. These need to include:
- Modified duties,
- Rehabilitation support, and
- Ongoing communication for transition to work.
Comprehensive Plumbers’ Insurance with Atlantic Insurance
Atlantic Insurance has provided plumbing insurance for businesses across Australia with peace of mind for over 25 years. Our experienced team have developed a sharp understanding of the risks involved in the plumbing industry. Contact us today to discuss the best options to protect your plumbing business.
Any information contained on this page of the website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Your should consider these, having regard to the appropriateness of this advice and the relevant Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which will be provided following any formal recommendation to you.