What Limit Of Liability Do I Require?

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.

requirement.

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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

 

 

 

 

Is Faulty Workmanship Covered Under My Public Liability Insurance

Is Faulty workmanship covered?

Is Faulty Workmanship Covered Under My Public Liability Insurance?

We asked Steve Sloan a broker with Insure 247, if we did repairs for a client that failed would we be covered?

Your public liability policy covers your business, for losses to a third party

“Your public liability policy covers your business, for losses to a third party.

You should check the product disclosure document as each insurer has a different approach to claims as a result of Faulty Workmanship.”

An example of an insurer’s approach to Faulty Workmanship

In the PDS from a leading Insurer it states:

We agree (subject to the terms, Claims conditions, General Policy conditions, Exclusions, definitions and Limits of liability incorporated herein) to pay to You or on Your behalf all amounts which You shall become legally liable to pay as

Compensation in respect of:

1. Personal Injury, and/or

2. Property Damage, and/or

3. Advertising Injury,

However under the “COVER SECTION EXCLUSIONS,” it states
11. Faulty workmanship

for the cost of performing, completing, correcting or improving any work undertaken by You. (this means work that you do to repair or replace would not be covered)

According to Steve Sloan “Subject to the wording, it’s likely that your policy will cover third party losses, but it may have a higher excess.”

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If you are still unsure speak to a broker on 1300 046 787

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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 inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification.

Faulty Workmanship Insurance

 

Public Liability Insurance Does My Business Need It?

 

Public Liability Insurance Does My Business Need It?

Public Liability Insurance is for claims made against your business because its damaged someone’s property or accidentally injured a person.

You will need it if your business goes out to see clients or they visit you, or you sell products that may also result in property damage or injury to a third party.

Is it Compulsory for my Business to have Public Liability?

Although Public Liability Insurance is not compulsory in Australia, some contracts may require it before you can complete your business activities.

Clients also may ask you for a copy of certificate of currency as proof of insurance, so its worth keeping a copy on hand.

Your primary contractor may also ask to be listed as an interested party

Public Liability Insurance is not required by law Public Liability Insurance is not required by law in Australia, however the Australian Government through www.business.gov.au explain “If you own a business, you may be liable for damages or injuries to another person or property.

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How Does Publicliabilitycomparison.com.au Work?

Publicliabilitycomparison.com.au uses Steadfast SVU and Insure 247 Software to approach a network of insurers and specialist underwriters for public liability insurance quotes, and through our licensee Ausure and Steadfast we have access to all major insurance markets.

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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 inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

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Public Liability Premiums Reduce

 

 

Electricians

Public Liability Insurance Quotes

Compare Public Liability Quotes for Electricians

Based on $5 Million Cover with 1 employee up to $100,000 income, quotes from $434 to $948 from Allianz, AIG, Calibre, CGU, Vero, QBE and Zurich, quote does not include Queensland Consumer Protection Insurance

COMPARE PUBLIC LIABILITY INSURANCE QUOTES FROM LEADING AUSTRALIAN INSURERS FOR ELECTRICIANS

Complete the form below or call us on 1300 046 787 13000 Insure

Once completed we will get quotes from our insurer panel to find the right policy at the right price. Australia wide coverage



 

PUBLIC LIABILITY INSURERS USED INCLUDE:

AIG Public Liability Insurance Quote  CGU Public Liability Insurance  Calibre Insurance  QBE Public Liability Insurance  Vero Public Liability Insurance  

Public Liability Quotes for Electricians

Your quotes will come from the Insure 247 Team

Lets get you covered

Talk to the Team 1300 046787

± Price will depend on cover required, your occupation, experience, postcode and turnover

Δ Not all insurers will offer quotes for all occupations

Price as at 13/04/2016

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* Subject to insurers acceptance

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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