Sole traders make up a large proportion of businesses in Australia. And whilst the business structure might seem a bit less complex than companies and trusts, it doesn’t necessarily mean that insurance is any less important. In fact, as a sole trader, your assets are at risk if things go wrong in your business, so you must have the right protection in place.  

The insurance that you might need as a sole trader will depend on a range of factors such as:

• What your business activity is and how you operate

• Where you are located

• Whether you have any employees, apprentices etc. working with you

• What your business assets are; and

• Your individual circumstances

Remember – a sole trader status depends on how your business is structured, not just whether you’re a solo worker. You can be a solo worker within a company (pty ltd) structure which means you’re not a sole trader and will have different insurance needs. You can also be a sole trader with employees (which sounds contradictory!).

Of course, there may be types of insurance that could be beneficial for you depending on your circumstances, that we haven’t listed here. The best option is to have an obligation-free chat with us about your work and circumstances so we can provide you with tailored information. Or you can visit our business insurance page for more info!