How Much Public Liability Insurance Does My Business Need?

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What is Public Liability Cover For?

You run the risk of facing a third-party claim for either personal injury or property damage if customers come to your place of business or if your workers go to clients’ locations.

How much public liability insurance does an Australian Business need?

Insurers often offer $5 million, $10 million, and $20 million dollar cover options in Australia. It depends depend on your occupation, risk exposure, and regulatory requirements, but it’s a necessary protection for ALL enterprises, including small firms, sole proprietorships, and corporate organisations, says Adam Sloan, broker at Ausure Insurance Brokers and owner of Publicliabilitycomparison.com.au.

Some insurers offer a $50 million policy; however, it is not a popular choice for the majority of small and medium-sized firms. Nevertheless, it’s crucial to keep in mind that if you do business with local, federal governments or international contracts which may demand this greater level of coverage.

Public liability comparison

Public Liability Insurance is not required by law

The Australian Government explains* that although it is not needed by law to have public liability insurance, “If you own a business, you may be liable for damages or injuries to another person or their property.” Although liability insurance is typically optional, it is generally advised for firms in all industries due to the unpredictable and possibly very expensive nature of lawsuits. Your business and you are covered by public liability insurance from the financial danger of being held accountable for negligence. Negligence is defined as “damage that is reasonably foreseeable.”

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The different levels of coverage, wordings, exclusions, and inclusions that insurers offer will depend on the risk and the occupations that they prefer. Throughout the year, some insurers will run promotions. Additionally, if you have a long history with an insurer and have never filed a claim, you should think about asking for a discount. (However, unlike home insurance, they don’t provide claims bonuses.).

If you are still unsure speak to a broker or talk to our team on 07 5631 6040, to discuss your requirement.

Sources:

www.business.gov.au

https://publicliabilitycomparison.com.au/the-problem-with-cheap-public-liability-insurance/

Compare to Save Money On Your Public Liability Policy

Compare And Save Money On Your Public Liability Policy

Here are five ways to compare amd save money on your public liability insurance policy.

 

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Insurers will offer different levels of cover, wordings, exclusions and inclusions, they may also prefer a certain risk and occupations.

Some insurers will offer specials at different times of the year.

Also if you have been with an insurer for any length of time you should consider asking for a discount, especially if you haven't made any claims. (However unlike house insurance, they don't offer any claims bonuses)

Pay Annually

The convenience of paying your public liability insurance by the month will come at a cost with most funding companies and insurers charging extra for the convenience, normally in the form of fees and charges.

Annual payment for your insurance policy is also tax deductible

Choose the right level of cover

Steve Sloan a broker from Insure 247 explains that the right level of cover is the first place to start. "If your business is dealing with the general public 5 million dollars cover may be adequate, however, if it's business to business you may need to have $10 million dollars cover, if you deal with state, federal or local government they may require a minimum of $20 million. However, often the difference between 5 and 20 million dollars, may only be a few hundred dollars.

Reduce Risk

Where you show your insurer that you are reducing your risk it may reflect in the premiums, this may be something as simple as adhering to the Australian standards for certain business activities or if you are an importer and you can show that the manufacturing processes and procedures are in place this may also reflect on your premiums.

If you use subcontractors and you can also show that the subcontractors have their own insurance this may also have a benefit that reflects in your premium.

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

Public and Products Liability Insurance Quotes

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

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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

 

 

Electricians

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PUBLIC LIABILITY INSURANCE FOR Electricians

Electricians Public Liability Insurance

Do Electricians need Public Liability Insurance?

Yes, electricians in Australia typically need public liability insurance. Public liability insurance provides coverage for any third-party claims for property damage, personal injury, or other losses that may arise as a result of the electrician’s work. This type of insurance is important for electricians, as they work with potentially hazardous electrical systems and equipment that could cause harm or damage if not properly installed or maintained.


In addition, many Australian states and territories require electricians to have public liability insurance in order to obtain or maintain their electrical contractor license. Even if it’s not required by law, having public liability insurance is still a wise investment for electricians to protect themselves and their businesses from unexpected and potentially costly claims.

We make it easy to get a Public Liability quote, get started below.

We make it easy to get electricians public liability quotes, get started below.

Why do Electricians need Public Liability insurance?

Here are five reasons why electricians need public liability insurance in Australia:

1.Protection against third-party claims: Public liability insurance provides coverage for any third-party claims for property damage, personal injury, or other losses that may arise as a result of an electrician’s work. This is important because electricians work with potentially hazardous electrical systems and equipment that could cause harm or damage to property.

2. Legal compliance: Many Australian states and territories require electricians to have public liability insurance in order to obtain or maintain their electrical contractor license. Failing to comply with this requirement could result in fines or other penalties.

3. Peace of mind: Having public liability insurance can give electricians peace of mind knowing that they are protected in the event of an unexpected claim. This can allow them to focus on their work without worrying about the financial impact of a potential claim.

4. Protection of business assets: If an electrician is held liable for damages or losses as a result of their work, they may be required to pay compensation or legal costs. Without public liability insurance, this could result in the loss of business assets or even bankruptcy.

5. Competitive advantage: Having public liability insurance can be a competitive advantage for electricians when bidding for jobs. Many customers and businesses require proof of insurance before hiring an electrician, so having public liability insurance can help electricians win more contracts and grow their business.

ELECTRICIANS PUBLIC LIABILITY INSURERS COMPARED INCLUDE AIG, ALLIANZ,  CGUHOLLARDQBEVERO, AND ZURICH*.

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Public Liability Comparison helps Electricians find cheaper public liability quotes by comparing Australia’s top insurers. Compare quotes for Electricians in NSW & Sydney, SA & Adelaide, ACT & Canberra WA & Perth, Melbourne & Vic and throughout rural Australia.



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Why public Liability Comparison

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  • We’re real people, in Australia that provide you with only reputable public liability quotes that you can rely on.

  • We do the hard work for electricians by comparing public liability quotes from multiple insurers for their insurance.

  • We manage the entire claim. We work for you, not the insurer – to get you the outcome you deserve.

DON'T JUST TAKE OUR WORD FOR IT

Insure 247 IconInsure 247

8/328 Scottsdale Drive, Robina

4.7 171 reviews

  • Avatar Esteban Gimeno ★★★★★ 5 months ago
    Great team! Awesome costumers service and competitive prices! I been working with Caleb and my experience has been great at all time.
  • Avatar moey Zahedi ★★★★★ 7 months ago
    I have spoken to corey about taking an insurance for my business he was very helpful he is honest. He explains everything about which insurance is good for your business he doesn't waste your time and straight forward person
    I would
    … More recommend them for any tradie.
    Corey is the man to speak to about your insurance.
    Thank you very much mate
    Kind regards SZ
  • Avatar Claudia Bejenaru ★★★★★ 11 months ago
    Working with Karen at Insure 247 was a great experience: clear and swift communication and great service for our company's needs. Karen was very accommodating and understood exactly what we were looking for. Highly recommend.

Publicliabilitycomparison.com.au by Insure 247 Ausure Insurance Brokers Pty Ltd T/as Insure 247 Authorised Representative of Ausure Pty Ltd AFSL 238433. 
General Advice Warning: Please be aware that any advice that may have been given or implied is general advice only. We have not taken into consideration your individual needs, objectives or financial requirements. Before deciding to purchase a financial product, you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs. 

What is public liability insurance?

What is public liability insurance?

If clients visit your business or your employees visit client sites you are at risk of a third party claim, that claim may be for personal injury or property damage.

Why do Australian Businesses need the cover?

Public liability insurance protects you and your business against the financial risk of being found liable to a third party for death or injury, loss or damage to property or economic loss resulting from your negligence.

https://publicliabilitycomparison.com.au/category/public-liability-insurance-faqs/

What if you are a home based business?

Most home policies will include a liability component, however, this would be void if the third party was visiting your home for your businesses activities.

Is public liability insurance a legal requirement?

Not for all businesses in Australia, but unless you can afford to pay for a multi-million dollar claim, liability cover may be considered an essential item on your business budget. Even the Australian government Liability insurance urge businesses to seek the cover.

Read more about on the Australian Competition and Consumer Commission website.

  • See information about insurance in your state or territory.
  • Compare Public Liability Insurance Quotes from leading Australian Insurers

What is Broadform Liability?

Broadform Liability usually covers both public liability insurance and product liability insurance.

Check with our team when you get a quote to see if you require Broadform Liability.

Public and Products Liability Insurance Quotes

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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

PUBLIC LIABILITY INSURERS USED MAY INCLUDE:

AIG Public Liability Insurance Allianz Public Liability Insurance Quotes   Brooklyn   CGU Public Liability Insurance  Calibre public liability Insurance Hostsure Insurance 

protecsure-logo QBE Public Liability Insurance

sportsUnderwriting Vero Public Liability Insurance  

* Insurers may include Allianz, AIG, Altiora, Ansvar, Arena, CGU, Caibre, CGU, Highstreet Underwriting, QBE, WR Berkley, Sports Underwriting, Vero, Zurich

 Public Liability Compared