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Sick Pay for Contractors

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    Sick Pay for Contractors

    Hi, All
    new to contracting and just wondering what contractors do to cover themselves when sick or possibly been in an accident that could put you out of work for a couple of weeks.. What type of insurance would you require for this..
    Cheers,
    Shaun.

    #2
    We stockpile cash. Or try to.

    If there is an accident involved you can usually sue for loss of earnings. You'll need to prove it though.
    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

    Comment


      #3
      illness cover insurance is very hard to come by for contractors in that it is usually roughly the same cost to simply stockpile cash "for a rainy day" as it is to pay into an insurance scheme. It is also worth noting that if you do happen to come across a contractor friendly insurance policy that is a better deal than simply saving the money you would have spent on the policy in the first place then it has been known that insurance companies will then use every trick in the book regarding policy wording to wriggle out of paying.

      In short, contractors can't get sickness insurance very easily. Save your money and invest part of it in an easily accessible short term fund for the day when it's needed.

      note: I am not any sort of expert in insurance or insuranc policies, the above is simply based upon my experience and experiences I've heard over the years from other contractors. In short, i could be very wrong.
      The proud owner of 125 Xeno Geek Points

      Comment


        #4
        What they said. Contracting is inherently risky.

        'Self insurance' is the way to go. Appreciate it can take several months or even 1 yr+ to get into this position though.
        It's about time I changed this sig...

        Comment


          #5
          Just don't get injured or anything silly.

          Or if you do get injured make sure it's severe enough that you have to stay in hospital for the duration.

          Comment


            #6
            Originally posted by Robinho View Post
            Just don't get injured or anything silly.

            Or if you do get injured make sure it's severe enough that you have to stay in hospital for the duration.
            Eh, how is that helpful? The whole point of the OP is no work = no cash. How is a couple of months in hospital going to help?

            Comment


              #7
              Originally posted by boardman411 View Post
              Hi, All
              new to contracting and just wondering what contractors do to cover themselves when sick or possibly been in an accident that could put you out of work for a couple of weeks.. What type of insurance would you require for this..
              Cheers,
              Shaun.
              Someone has a lot of learning to do :|
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #8
                Negotiate sick pay and a company car with your agent
                "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

                Comment


                  #9
                  Originally posted by Pondlife View Post
                  Eh, how is that helpful? The whole point of the OP is no work = no cash. How is a couple of months in hospital going to help?
                  They'll feed you whilst you're in there won't they?

                  Comment


                    #10
                    Originally posted by Robinho View Post
                    They'll feed you whilst you're in there won't they?
                    If you're well enough to eat you'll be sent home after a couple of days.
                    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

                    Comment

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