What Limit Of Liability Do I Require?
When you start to look for Public Liability Insurance, one of the first questions you must decide is what limit of liability do you require?
What is Limit of liability?
Insurers will offer limits of liability starting at $5 million, and can go up to $50 million.This is the insurer’s maximum payout in the event of a claim
Steve Sloan a broker with Insure 247, explains;
You should consider your clients when choosing a limit of liability
If you deal with the public, then $5 million would cover most claim situations.
If you deal with other businesses (B2B) then $10 million may be required.
If you deal with local government, state or federal government, airports or ports then $20 million is probably going to be the minimum requirement.
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