You have to know you're covered, not just think you are

Of all the things licensed plumbing and gasfitting contractors should take seriously, insurance is very close to the top of the list. It's not good enough to merely think your insurance will cover you when something goes wrong. You have to know for certain.

There's something else too. It's your responsibility to be absolutely honest and accurate when answering questions your insurance company or broker asks about your business. Being deliberately or unintentionally 'economical with the truth' means setting yourself up for a life-changing financial disaster.

What could possibly go wrong?

After all, you've ticked some boxes on a form, provided relevant details, signed your name and paid your premium.

Well, here are a couple of examples.

• An employee is injured and submits a workers compensation claim: If you mistakenly think your 'business insurance package' includes workers compensation insurance or have understated the total remuneration you pay your employees, you could be liable for hundreds of thousands of dollars in fines, legal costs and retrospective premiums.
• A plumbing fitting you installed in a second-floor bathroom fails and floods the house while the owners are away: If your public liability insurance policy says you only ever work on single-storey buildings, it's void. That makes you personally liable for all the costs.

To rub salt into the wound, if an insurance company revokes your insurance policy because it was priced on incorrect information, they won't refund all those premiums you've paid over the years.

The bottom line is this: Never cut corners with insurance, never make assumptions, and never think you'll be accident-free forever.

The Master Plumbers and Gasfitters Association strongly recommends that members regularly review all their insurances and take steps to ensure they have appropriate cover.

Get the right advice: Talk to the MPA Insurance team

MPA Insurance is one of the most important services available to Association members. Look at what it offers:

• Insurance that can be customised to suit your business
• Friendly service from professionals who understand the plumbing industry
• Competitive pricing
• Strength in numbers because more members using MPA Insurance means more power to negotiate lower premiums

When you want a thorough and honest review of your existing policies, the MPA Insurance team is ready to assist.

How to contact MPA Insurance

Call the dedicated MPA Insurance phone number 0439 135 088 or email insurance@mpawa.asn.au.

If you're not a member of The Master Plumbers and Gasfitters Association of WA and want access to MPA Insurance, sign up now.