If you’re a sole trader or small business owner you have a responsibility to your customers, clients, suppliers, employees, and the general public if they suffer an injury, or their property is damaged as a result of your business activities.
Public Liability insurance is designed to protect you, your business, and your employees against compensation awarded for negligence for personal injury or property damage, as well the legal costs of a defending a claim. The likelihood of a claim being made against you is unpredictable and just one incident, whether you’re found liable not, could be crippling to your business, as well as negatively impacting your reputation.
You need Public Liability insurance if your customers visit you or you go out and about to see them, either at their premises, in public spaces, or places owned or controlled by others. You also need it if you manufacture or sell products.
Public Liability insurance can cover everything from minor incidents right through to catastrophic accidents.
A typical policy will cover:
Some common examples from which a public liability insurance claim could arise from include:
When considering a Public Liability Insurance policy it’s important to consider the risks your business is exposed to, as each industry and business can be vastly different.
Not all policies are the same either, with most being tailored to meet the needs of individual businesses. So it’s wise to get a number of quotes to compare the costs, as well as the level and types of cover offered by various companies. This way you can make sure that you will be covered for all eventualities and are not paying too much for the policy.
Publicliability-australia.com.au offers free multiple quotes from Australia’s leading insurers so you can compare policies without the need to ring around or visit numerous websites. With no tricky paperwork to complete you can get immediate coverage and your policy documents are emailed to you instantly.
Each business will also require a different amount of cover, typically anywhere between $5M to $20M. However, most small businesses opt for around $10M. When deciding on a policy you should ask yourself the following questions:
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