Removing the Risk of Not Being Paid

Every year building companies go bust leaving unfinished buildings, clients in limbo and many sub-contractors unpaid.


Risks of Being Self Employed

Many tradespeople like the flexibility of being self-employed, but there are trade-offs. Some of the biggest risks of self-employment are not having enough work or not being paid for your work.


Impact of Unpaid Invoices

Unpaid invoices have a ripple effect. If a self-employed or small business owner isn’t paid their invoices on time, they can be placed in financial stress or worse at risk of bankruptcy. The bills don’t stop when someone isn’t paid. They still have to pay their business expenses of a work vehicle, fuel, accountancy fees, registrations and small business insurance. If they employ staff, the situation is even worst because they still have to find the money to pay staff on time.

On top of the business expenses are their personal expenses. They may have a young family and are the only income earner in the house, so the financial pressure mounts with every day their invoice goes unpaid. No matter your industry, whether you’re seeking insurance for an electrical business or landscaping insurance for your small residential business, speaking to an experienced insurance broker is highly recommended.


How to Protect Yourself

With the rise of sub-contractors not being paid, the popularity of credit insurance for tradespeople has also grown. Contractors who feel they are at risk of completing the work only to find their debtor is insolvent or declares bankruptcy, are covering themselves with an insurance policy. The insurance allows them to take out a policy for a one-off project or coverage for the year.


Specialists in Trade Insurance

Phoenix has been specialising in insurance for tradespeople for some years. We know when there is a need for a new trades insurance policy before other insurance companies because we are talking to tradespeople every day. We know the state of the industry and economy so when times are tough, we’re the first to hear.


Combine with other Trade Insurance

Underwritten by a secure international insurer, Phoenix Insurance Brokers Pty Ltd offers a package of trade-related insurance protection against a range of risks including:

You can take out a package of single components, whatever you need to suit your personal circumstances.

Talk to a Phoenix Insurance Brokers Pty Ltd consultant by calling 9367 7399 or complete the commercial insurance quote form and we’ll come back to you very soon.

About David White

David has over 35 years of insurance experience, all as an Insurance Broker. Over his career, David has established a reputation for dedicated client focus, attention to detail and innovative insurance placement solutions.

Joining Phoenix in 2015 David brought significant international and local broker management experience to the Phoenix team and was appointed Managing Director in 2018. David is an owner of Phoenix Insurance Broker and provides a unique blend of leadership, insurance and general business skills along with the strong belief in teamwork and family that drives Phoenix forward.

Please contact Phoenix Insurance Brokers Pty Ltd today to discuss your Insurance needs.