Top 5 Insurance Tips When Utilising Sub-Contractors – in 60 Seconds
1. Always request a certificate of currency prior to commencement.
2. Review the business activities detailed on the certificate of currency. If the business activities are noted as Human Resources Consultant and IT Consulting is being undertaken, the policy will not respond as only the insured business activities are covered.
3. No Insurance no start. The ramifications for your business is not worth it.
4. Check the Insured entity on the policy. Policies only cover the Insured detailed on the policy. If operating under a different entity/name then what is detailed on the policy, there is no cover.
5. Check the Limit of Liability. Is it adequate?
The information supplied is of factual or general advice only and is provided to assist you to determine if this product is right for you. It does not constitute personal advice as it does not consider your personal objectives, financial situation or needs. You should consider these before acting on this information. Prior to making a financial decision you should read the relevant Policy, Product Disclosure Statement or seek professional advice.
The information in this document is provided by Business Insurance for Woman, a trading name of Lido 34 Financial Services Pty Ltd a Corporate Authorised Representative (CAR No.000325541) of General Insurance Brokers of Australia Pty Ltd ABN 94 135 132 455 AFSL342546. Business Insurance for Woman is part of GIBA, which is part of the Steadfast broker network.
