How Much Public Liability Insurance

How Much Public Liability Insurance Do You Need?

How Much Public Liability Insurance

How Much Public Liability Insurance Do You Need?

In Australia insurers generally offer 5 Million, 10 million and 20 million dollar cover options, but how much public liability insurance do you need?

According to Steve Sloan a broker with Insure 247 “It will depend on your occupation, risk exposure, and legal requirements”

5 Millions Dollars Cover

$5 million will offer minimal cover that may be enough for a business with little exposure to the public.

10 Million Dollars Cover

$10 million moderate cover will suit businesses with a larger exposure to the public or that may have a business to business risk, or where you are required by contract to maintain that level of cover.

20 Million Dollars Cover

$20 million is a more comprehensive cover, required for business with a high exposure to the public, or companies that enter a local, state or federal government contract or work on one of their facilities.

Public Liability Insurer CGU explain “Every business is different, and there is no ‘one size fits all’ rule for how much public liability insurance your business needs. Sometimes the amount of public liability insurance you need will be dictated by the contracts you work on – for example, some corporate and government contracts will stipulate a minimum amount of public liability.”

At Publicliabilitycomparison.com.au we quote broadform liability cover, this covers your business against claims for personal injury to another person (other than employees) or damage to property owned or controlled by someone else, or advertising liability. Property damage, personal injury or advertising liability which gives rise to legal liability must happen during the period of insurance and be caused by an occurrence in connection with your business activities, Broadform also cover product liability.

If you are still unsure speak to a broker or talk to our team on 1300 046 787, to discuss your requirement.

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

Compare Public Liability Insurance

1300-Insure

Public Liability Compared

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs

Consumer Protection Insurance

Consumer Protection Insurance

Consumer Protection Insurance When Is it Required?

If you are an Electrician in Queensland or a Plumber in Victoria you may be asked to have Consumer Protection Insurance added to your Businesses Public Liability Policy what is it? Who requires it?

Consumer Protection Insurance Electrician in Queensland

A person who performs electrical work in Queensland must have an electrical work license authorising the work. … Licensed electrical contractors are required to meet specific insurance requirements. This will include having a minimum of $5 million public liability insurance, with a $50,000 consumer protection

Consumer Protection Insurance Victorian Plumbers

Victorian consumers have a level of insurance protection when they use licensed plumbing practitioners. Licensed plumbing practitioners must obtain certain qualifications. They will also need experience and hold insurance coverage required by law before being licensed by the VBA.

The full terms and conditions of the required insurance are provided in the Ministerial Order – Licensed Plumbers General Insurance Order 2002 (the required insurance).

This Is Not Professional liability Cover

Note that these policy’s do not cover Professional liability (any liability of whatsoever nature directly or indirectly caused by, in connection with or contributed to by or arising
from the rendering or failure to render professional advice or service by the insured, or any error or omission in connection therewith). For cover for this contact your broker about Professional Indemnity Insurance.

At Publicliabilitycomparison.com.au we quote broadform liability cover. This covers your business against claims for personal injury to another person (other than employees) or damage to property owned or controlled by someone else, or advertising liability, property damage, personal injury or advertising liability which gives rise to legal liability must happen during the period of insurance and be caused by an occurrence in connection with your business activities, Broadform also cover product liability.

If you are still unsure speak to a broker or talk to our team on 1300 046 787, to discuss your requirement.

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

Compare Public Liability Insurance

1300-Insure

Public Liability Compared

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs

Consumer Protection Insurance

Consumer Protection Insurance Electrician in Queensland Eligibility requirements

Continue reading → Consumer Protection Insurance

Disclosure

What Should You Disclose When Applying For Public liability insurance

Disclosure

What must you disclose when applying for a public liability insurance policy

  • You must disclose previous claims
  • Disclose if you or any directors have ever been declared bankrupt?
  • Or been involved in a company or business which became insolvent or subject to any form of insolvency or voluntary administration (e.g. liquidation or receivership)?
  • Disclosure if you or any directors have been convicted of any criminal offense (other than minor traffic convictions)
  • Your full occupation including the different business activities (perhaps you’re a cleaner, you will need to advise where you clean and when)

A disclosure made from the list above may not preclude you from getting insurance, the insurer will, however, consider them before offering a premium.

What are the consequences of a non-disclosure?

Failing to provide the correct disclosure will give the insurer certain rights, as a result of a non-disclosure in the Insurance Contracts Act. This may result in:

  • Claims being denied
  • The policy may be canceled
  • It could result in a fraud charge

If you are still unsure speak to a broker or talk to our team on 1300 046 787, to discuss your requirement.

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

Compare Public Liability Insurance

1300-Insure

 

Public Liability Compared

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs

What you should disclose

Cheap Public Liability Insurance

The Problem with Cheap Public Liability Insurance

Comparing Public Liability Insurers

The issue with Cheap Public Liability Insurance

When comparing public liability insurance policies, there is a trap that the insurers don’t tell you when they offer you a cheap premium.

According to Insure 247‘s Broker Steve Sloan, it’s what the Insurers don’t tell you that may result in you carrying the risk when choosing a cheap policy.

“What they have left out”

“Not all public liability insurance policies are the same, insurers are obliged to tell you what they cover not what they have left out.” he said “Insurers wording may include reduced cover option or simply no cover for common claim scenarios”

Care Custody & Control

Mr. Sloan explains “If you look after customers goods check that that your policy covers the amount you require, it’s common for insurers to exclude this cover for couriers, transport companies, mechanics and even pay TV installers.” Some insurers may describe this as goods in physical and legal control.”

The excess

It’s when a claim happens that you truly appreciate the value of a public liability policy, however, some insurers will have a high excess for different claim scenarios. Check prior to purchasing the policy, the excess, and compare other insurers to see if it is a common excess.

Cheap is not always best

When you get your public liability quote, you will be asked what level of cover you require. Cover generally offered is either $5, 10 or $20 million, according to Mr. Sloan $5 Million will normally be the cheapest, however, “It may only be a few hundred dollars more to get the maximum amount of cover”, “$5 million may not be enough to satisfy a government or business tender process.”

Before buying a policy Steve Sloan recommends using the check list below

PUBLIC LIABILITY CHECK LIST

  • IS IT BROADFORM LIABILITY (BOTH PUBLIC AND PRODUCT LIABILITY?)

  • ARE THERE ANY ENDORSEMENTS OR ALTERATIONS TO THE COVER?

  • WHAT ARE THE POLICY EXCLUSIONS?

  • WHAT IS THE EXCESS IN THE EVENT OF A CLAIM?

  • CHECK THE LEVEL OF COVER

If you are still unsure, talk to our team on 1300 046 787, to discuss your requirement.

PUBLIC AND PRODUCTS LIABILITY INSURANCE Compared

Compare Public Liability Insurance

 

1300-Insure

Public Liability Compared

At Publicliabilitycomparison.com.au we quote broadform liability cover, this covers your business against claims for personal injury to another person (other than employees) or damage to property owned or controlled by someone else, or advertising liability. Property damage, personal injury or advertising liability which gives rise to legal liability must happen during the period of insurance and be caused by an occurrence in connection with your business activities, Broadform also cover product liability.

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs