How much Public Liability insurance do I need*?

When considering how much Public Liability insurance your business may need you should consider the level of risk your business faces, as well as other factors like industry or contractual requirements. 

It would be nice to have a crystal ball to know exactly how much cover you should have, but the amount of Public Liability cover you choose is ultimately up to you. 

Many business contracts will include a minimum amount of Public Liability insurance to be in place stipulating the amount of Public Liability insurance you are required to have to comply with the terms of the contract.   Many industry associations and professional bodies also require members to obtain and maintain a minimum amount of Public Liability insurance for membership or to meet licencing requirements. 

It is important that you take the time to consider the scale of work that you do and the level of financial protection you will need in the event a public liability claim is made against you.   

With BizCover there are three levels of cover (limits of liability) available: $5 million, $10 million or $20 million.  

Below is an overview of what is typically covered (and not covered) under a Public Liability insurance policy: 

What is typically included?* 

  • Claims for compensation due to personal injury suffered by a third party (e.g. a customer, supplier or member of the public)  
  • Claims for compensation due to damage to property owned by a third party due to your negligent business activities; and 
  • Legal and defence costs associated with a covered claim 

Many public liability policies also provide cover for product liability. 

What is typically not covered?* 

  • Injuries to your employees  
  • Damage to your own property 
  • Costs of rectifying faulty workmanship 
  • Professional negligence 
  • Contractual liability 
  • Events occurring before or after the policy period 
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.  The information contained on this web page is general only and should not be relied upon as advice.