For a Public Liability Quote
If you need advice, please call Liability Brokers: 1300 881 779
What the insurance covers
This type of insurance covers any awards given to a member of the public because of an injury or damage to their property caused by you or your business. It also covers any related legal fees, costs and expenses. Premiums depend on the type of business you run, your turnover and the number of employees you have.
How much cover should you take out?
Most businesses have cover between $5 million and $20 million, but we recommend that the minimum cover should be set at $10 million as claims for injuries can take many years to settle.
Talk to a professional
There are many conditions and exclusions that can be applied to public liability policies. It is therefore important that you discuss with your insurance broker any that are applicable to your policy.
Products' Liability
If you supply a product and something goes wrong with it, claimants are likely to try to claim from you first, even if you did not manufacture the product. The nature of risk ie. the likelihood of a claim and the premium, are affected by who the product is sold to, how and where it is used and any warnings or labels that are provided.
The products' liability insurance that you buy covers you against any compensation awarded as a result of damage or injury caused by your product.
Product liability covers you against unforeseen circumstances. If you simply make an inferior product, then you may not be able to make a claim and bad workmanship is not covered.
In order to reduce your premiums you should put in place quality control measures. This not only ensures lower premiums, but also reduces the risk of compensation claims and the loss of your reputation in the marketplace.
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