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Insurance for Airstaskers in Australia

Insurance
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4
min read
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Aug 22, 2022
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Written By:
Patricia Opsima

The world is moving towards a more freelance-based economy and it's never been easier for Australians to earn an income, while working on their own terms and at their own pace. With the increasing popularity and reliability of online marketplaces such as Airtasker, more and more Australians are entering these types of arrangements every day. However, as with any job or business venture, it is important to ensure you have adequate cover in place in case something goes wrong.

How do Airtaskers make money?

Airtasker is a website that connects people with local services. It’s a marketplace for people to connect with local services. The company was founded in 2011 and has a team of over 100 employees. The company has users in over 350 Australian cities, who can post or request tasks like plumbing, cleaning, moving furniture and more.

Airtasker is user-friendly, so if you need help setting up your account or understanding what’s involved in being an Airtasker or requesting one from others, this guide will help you along the way!

What insurance do I need as an Airtasker?

As an Airtasker, you're likely to be a freelancer. This means that you work for yourself and aren't employed by a company. As such, your income can be very irregular. That's where income protection insurance comes in.

Income Protection Insurance is basically life insurance for freelancers (and other self-employed people). It will pay out if you are unable to earn any income because of illness or accident—even if it's only temporary!

If you're eligible for Income Protection Insurance, this will help cover the cost of living if something happens and your earnings drop significantly for an extended period of time—for example:

Income Protection Insurance for Airtaskers

What is Income Protection Insurance?

Income protection insurance is a type of insurance that helps cover the cost of living, such as rent, bills and groceries. It can also help you to stay afloat while looking for a new job or while taking some time off work with stress-related illnesses.

How does it Work?

For those who have suffered an injury or illness that prevents them from working full-time, income protection insurance will pay out a set amount each week until they’re able to return to their usual duties. For example: if your weekly wage was $1,000 before being injured, then your income protection policy may pay out around 80% of this (or $800).

There are several things to consider when taking out income protection insurance. You should ask yourself the following questions: 

  • How much cover do I need?
  • What is the difference between life and income protection insurance?
  • Is my existing policy enough for my needs? 
  • Will it provide me with adequate financial support during times of illness or injury?

The Importance of Income Protection Insurance for Airtaskers

As an independent contractor, you need to ensure that you and your family are protected from loss of income.

You can't rely on your client's insurance to cover any injuries or illnesses that may occur while working. In fact, most clients won't have any form of protection in place for this situation.

The good news is there is a way for you to receive compensation if something happens on the job: income protection insurance. This type of insurance provides financial support when someone is unable to work due to injury or illness. There are two types of income protection insurance: private (or individual) and business-specific policies.

If you're an independent contractor and have a business-specific policy, you'll be covered for any loss of income if something happens while working. If your client has liability insurance that covers their workers' compensation claim, then it may also cover medical expenses incurred from an injury or illness on the job.

Earning a living while working on your own terms and at your own pace, has never been easier. With the increasing popularity and reliability of online marketplaces such as Airtasker, more and more Australians are entering these types of arrangements every day. However, as with any job or business venture, it is important to ensure you have adequate cover in place in case something goes wrong.

In the same way that you would ensure you have adequate insurance for your home or car, it is also important to ensure your Airtasker earnings are covered. People are using the website to make money in many different ways, and this means there is a wide range of risks associated with using the platform.

If you're thinking about signing up for Airtasker, here are some tips to help you stay protected:

  1.  Ensure you have adequate insurance in place. 
  2. Make sure any tasks that require physical work are covered by the right policies.
  3. Ensure all employees are covered by workers' compensation insurance (if applicable). 4. Ensure any tasks that require a licence or permit are covered by the right insurance policies.

Airtasker is a website that allows people to post tasks they need to be done. Airtasker's are then able to accept or decline the task, and if accepted, they will be paid for their services by the person who posted it. The platform has grown in popularity in recent years, with millions of tasks being completed on Airtasker each year.

Key Takeaway:

With that unique spirit comes a need for insurance tailored to Airtaskers.

With the constantly changing nature of technology and business, it is important that we keep up with new developments. For many people, this means taking on more responsibilities at work or spending more time at home with family. However, it can also mean finding new ways to supplement your income by doing things like Airtaskers. 

While these platforms offer many benefits such as flexibility and convenience, they do not provide insurance cover if something goes wrong while performing tasks as an independent contractor (i.e., working as a freelancer). This means that if anything happens while doing an assignment or project through one of these sites—like getting hurt in an accident—you won’t have any protection from injuries sustained during work hours unless you purchase private health insurance first! This is where Coverhero jumps in and saves the day with our awesome income protection insurance for hustlers! 

Therefore, when considering taking on freelance work: always make sure you have adequate insurance coverage in place before starting any projects for clients online.

Related Articles:

Insuring the Gig Economy in Australia

Gig Economy Needs Protection

Why are Millennials Good at Working? Millennials in the Workforce

Patricia Opsima

SEO Specialist
Insurance
Gig Economy
Gig Work
Gig Platforms

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