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Builders Income Protection Insurance

Builders Income Protection Insurance

Updated: 2012 February 28

As a builder you know that if you're not building, you're not earning!

If you are injured or too ill to work, the best way to protect yourself financially is income protection insurance.

Income protection can replace up to 75% of your income each month until you are able to return to work.

Builders Income Protection Insurance Quote

If you can't return to work at all, most policies will give you the option to continue being paid until you reach age 65, but you must select this option when you take out your policy, as once you make a claim it will be too late!

You may have heard of income protection also being referred to as accident and illness insurance.

Whilst the two covers are effectively quite similar, there are some important differences between the two. You should talk to your builders insurance broker about these differences when deciding which cover is right for you.

There are many different options to consider when taking out builders income protection insurance, and these options can have a dramatic effect not only on the insurance premium, but also on your ability to make a claim when something does go wrong.

Investing in a good income protection policy could be one of the best decisions you make. It will go a very long way in protecting you and your family from the major financial impacts of not being able to earn a living.

Income protection is undoubtedly one of the most important forms of insurance for builders, and for most people the cover can be very affordable if you shop around and choose the right policy.

Income Protection Options

When taking out a new income protection policy there are a number of different options that you must decide on. These options include the waiting period, benefit period and benefit amount.

Waiting Period

The waiting period relates to how long you need to be unable to work for before your benefits will kick in.

Many builders opt for a waiting period of 30 days, however there are options available from 14 days all the way through to 2 years. In a perfect world we would all go with the shortest waiting period, however the shorter the waiting period the higher the premium

Benefit Period

The benefit period relates to how long you will continue to receive benefits for whilst you are unable to work.

For builders this period is generally 2 or 5 years, or through until age 65. An age 65 benefit period is strongly recommended, but if budget is an issue then a 2 or 5 year benefit period is certainly better than nothing.

Benefit Amount

Builders are generally able to insure up to 75% of their personal income. It is important to remember that this amount is based on your net profit after expenses, and not on your overall revenue.

Whilst most builders opt for the full 75% figure, you can insure for less if you wish. This is the case for some high earning builders who determine that they would only need a smaller amount if they couldn't work for a period of time.

Packaging Your Cover

Income protection can be bundled with your life insurance and TPD insurance, which in many cases can result in reduced premiums and less paperwork.

Business insurance such as public liability insurance and tool cover cannot be bundled as they are considered to be a different class of insurance.

Income Protection Quote

Obtaining a quote on your income protection insurance is easy here on the Builders Insurance website.

Simply complete our online quote request or get in contact with us, and one of our network of qualified insurance experts will contact you to run through your quotes.

We are the experts when it comes to builders insurance, and we can assist with your income protection as well as the rest of your business insurance needs.



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1. Lower Premiums

Our team will work hard to find the best deal on your insurance. If you can find a better deal elsewhere, we'll do our best to match it.

2. Less Hassle

Our online systems allow you to get your quotes faster and get your cover in place with the least amount of hassle.

3. Big & Strong

We only use strong and reputable insurers for your cover, giving you peace of mind knowing that you'll be looked after at claim time.

4. Expertise

We're the experts when it comes in insuring builders. It's what we do, and we do it well.

5. No Call Centres

You won't be dealing with a random person in a call centre each time you speak with us. Instead you will be assigned to a single adviser or broker (depending on your needs) who will look after you.


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