Public liability insurance for Sole Traders
Generally, public liability insurance policies will be in a company or individuals name.
The individual will often be a sole trader or be considered a small business. As these businesses grow, can their policy grow with them?
Can you transfer a policy from a Sole Trader to a new Pty Ltd Company as your business Grows?
Yes, according to Steve Sloan a broker with Insure 247.
As long as the trading activities, turnover and staff levels of the new entity are the same as your existing activities, brokers can arrange to transfer the policy into the Pty Ltd Company name.
What information will your insurer need when changing from a Sole Trader?
- The Company Name
- The ABN
- The Address
- The Trading Activites
- Has any director been bankrupt or had a criminal conviction?
- Sometimes they will also ask for the directors years of experience?
If you are still unsure, talk to our team on 1300 046 787, to discuss your requirement.
PUBLIC AND PRODUCTS LIABILITY INSURANCE 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