Sick Pay for Contractors

[ChimpMaster]

Clearly i wasn't being a 100% serious by suggesting getting more injured is a good thing.

No, you're just an idiot.

[Robinho]

Meanwhile your missus is watching the ocean finance channel whilst the bank take your house away.

I guess you have no mortgage, bills, outgoings etc and your wife can turn tricks to get the petrol to get the kids to school?

Clearly i wasn't being a 100% serious by suggesting getting more injured is a good thing.

[thunderlizard]

I (and most contractors I expect) don't have insurance to cover being unable to bill for a few weeks at a stretch, as that's a pretty normal occurence. Just make sure you charge enough to build up a bit of a reserve so you can carry on paying your salary through the lean weeks.

I do have personal accident insurance that should (in theory) pay out if I have a major accident/sickness that makes me unable to work for more than 6 months.

[Pondlife]

They'll feed you whilst you're in there won't they?

Meanwhile your missus is watching the ocean finance channel whilst the bank take your house away.

I guess you have no mortgage, bills, outgoings etc and your wife can turn tricks to get the petrol to get the kids to school?

[northernladuk]

Negotiate sick pay and a company car with your agent

WHS +1

Pension rules have changed so agent should be providing a pension soon as well.

[doodab]

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.

[Robinho]

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?

[Paddy]

Negotiate sick pay and a company car with your agent

[northernladuk]

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 :|

[Pondlife]

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?

[Robinho]

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.

[MrRobin]

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.

[chef]

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.

[doodab]

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.

[boardman411]

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.