By Steve Sloan

What is goods in physical or legal control?

With many public liability policies, you will see the inclusion of cover for goods in physical or legal control, many people believe that this offers the policyholder protection for their laptop or smartphone, unfortunately not.

What are goods in physical or legal control actually?

This covers your customer’s goods that you may be repairing, storing or it may be goods purchased by your clients that are awaiting delivery or pick up. It also covers goods that your company has accepted responsibility to insure under a formal consignment agreement.

This cover offers your business protection from loss or damage to those goods.

What level of cover should you have?

Check with your broker to see how much cover is in the policy, for example, most will have $250,000 as a standard offer, then consider the potential loss

“For example, if you’re a mechanic repairing a 2012 Ferrari 458, with a value of $400,000,  it may be best to discuss with your broker to get an increase on the level of cover for goods in physical or legal control.”

If you are still unsure about public liability insurance speak to a broker call 1300 046 787 13000 Insure

* is not a market comparison service, the financial products quoted may not compare all features that may be relevant to your circumstances. Click here for a list of Insurers used Please refer to our Terms of us by Ausure Insurance Brokers Pty Ltd T/as Insure 247 authorised representative of Ausure Pty Ltd AFSL 238433.

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