Business Premises Insurance
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What is Business Insurance?
... , and fines or penalties payable following a conviction. What is Business Insurance? Business Insurance can provide cover for your business' premises and contents, against loss, damage or theft, also offering protection ...
read moreBusiness Interruption Cover*
... ’s not Things to consider Back to Business Insurance Business Interruption Insurance Most small business owners like to prepare for unexpected events by insuring their premises, contents or stock. But have you thought ...
read moreBusiness Insurance
... main types of coverages include: Public Liability insurance Professional Indemnity insurance Business Insurance A business insurance pack can provide cover for your business premises and contents, against loss, damage or ...
read moreHow much does Business Insurance cost?
... risks all in one package. There are several different cover options available under a Business Insurance pack to protect things like your business premises, contents, stock and equipment, as well as financial loss due to ...
read moreMoney Cover*
What’s covered & what’s not Things to consider Back to Business Insurance Money Cover* Money insurance protects your business money (which will include not only cash and cheques, but also items such as lottery tickets, ...
read moreNo Dramas
... the types of coverage options available include: Building*- if you own your business premises, then Building insurance is a type of coverage to Building Insurance covers your building if it is damaged by an insured event ...
read moreBusiness Insurance in Bunbury
... I nsurance * for Small Businesses in Bunbury Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
read moreCommon small business insurance claims and how to prevent them
... Here are some of the most common BizCover Business Insurance customer claims, and tips on how to prevent ... and equipment after the storm caused water damage to their premises. You can reduce the risk of a claim from a ...
read moreBusiness Insurance on the Gold Coast
... trusted insurance partners: Business insurance* for Gold Coast Small Businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance on the Central Coast
... I nsurance * for Central Coast businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as ...
read moreBusiness Insurance In Wollongong
... insurance partners: Business insurance* for Small businesses in Wollongong Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance in Townsville
... or thousands of dollars to fix. Business Insurance* Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... I nsurance * for Toowoomba small businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... insurance partners: Business insurance* for small businesses in Parramatta Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
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... our trusted insurance partners: Business I nsurance for Newcastle businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an ...
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... our trusted insurance partners: Business I nsurance * for Melton businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an ...
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... our trusted insurance partners: Business Insurance for small businesses in Mackay Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
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... insurance partners: Business Insurance* for Small Businesses in Launceston Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
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... claims made by third parties. Business Insurance* Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... from our trusted insurance partners: Business Insurance* for Cairns businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an ...
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... , no paperwork, no delays Use code SMART50 for $50 off Compare quotes from our trusted insurance partners: BizCover is all for small business We help clients compare and buy cover that suits all kinds of start-ups and ...
read moreBusiness Insurance FAQs
... cover? What is Goods in Transit cover? What is Product Liability Insurance? What is Product Liability Insurance? Ready to sort out your Business Insurance? Your small business is a big deal to us. Get the right cover by ...
read moreTheft Cover*
... not Things to consider Back to Business Insurance Theft Cover* This option can cover your contents and stock from theft, attempted theft or armed hold up. It is not uncommon for theft insurance to require the item stolen ...
read moreGoods in Transit
... the goods you buy and sell? Are they sufficiently skilled and experienced? ← Back to Business Insurance *As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy ...
read moreEmployment Practices Liability
... s covered & what’s not Things to consider Back to Business Insurance Employment Practices Liability Cover* Employment Practices Liability (EPL) Insurance is designed to help employers minimise the risk and potential cost ...
read moreMachinery Breakdown*
What’s covered & what’s not Things to consider Back to Business Insurance Machinery Breakdown* This insurance covers the cost to repair or replace specified machinery following a breakdown. Did you Know? 'Breakdown' ...
read moreStatutory Liability*
What’s covered & what’s not Things to consider Back to Business Insurance Statutory Liability* Statutory Liability insurance covers the company, senior management and employees for allegations of wrongful breaches of key ...
read morePortable Equipment*
... s covered & what’s not Things to consider Back to Business Insurance Portable Equipment* Portal Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment ...
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... seasons is a prime time to make sure your business premises is prepared for the wetter and cooler weather ahead . ... Having Public Liability insurance is one of the vital safeguards for your business, protecting you from ...
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... Sometimes referred to as a “ BizPack ”, Business Insurance* is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire ...
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... of your negligent business activities. You may store stock for your business at your home business premises. It is a common mistake that many make, thinking that your home contents insurance policy extends to provide ...
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... needs it? Building cover is generally only taken out if you are the owner of the business premises. As part of the insurance assessment process, an assessor may be brought in to conduct a valuation of the property. If ...
read more6 areas you may not have thought business insurance covers
... pay out $75,000. 5. Money Did you know your Business Insurance policy can also provide cover for money that belongs to your business if it was lost, stolen or damaged whilst on your premises, in transit to or from your ...
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... resulting from a third party claim. Business Insurance Business Insurance - referred to as a “business insurance pack”, or simply “BizPak” - can provide cover for your business premises and contents against loss, damage ...
read more5 things to consider when purchasing business insurance
... are renting your business' premises. This a quick overview of some of the types of business insurances that are available to protect your business: Public Liability insurance* : Public Liability insurance is an important ...
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... as a supplier tripping over at your business premises could end up costing you more than a few boxes of groceries! Public Liability insurance is designed to protect your business against such claims by covering your ...
read moreHow to adapt your business insurance as your business grows
... t already have them in place. Business Insurance* Business Insurance * is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... challenges crop up. Protect your business needs with tailored Business Insurance options that can provide cover for ... to breakdown. Building* - if you own your business premises then Building cover is a no-brainer. It will ...
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... package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs. Public Liability insurance : Business insurance that protects you from claims and supports ...
read more5 tips for getting the best Public Liability insurance for your business
... practices you could potentially reduce your insurance premium over time. Do all you can to improve your business by improving the general safety of your premises, such as installing sprinkler systems, burglar alarms ...
read moreHospo Insurance
... know? Public Liability is essential for many hospo businesses. If you're renting your business premises, your commercial lease might require it. Build your Hospo Insurance Pack BizCover helps hospo heroes access over a ...
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... sure that you take out the right amount of cover that is required. If you purchase your business premises, you may want to consider Building insurance *. It may also be a requirement of your mortgage to have Building ...
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... before the horse, setting up your business insurance before your new business opens its doors to customers is recommended ... buying, leasing, and fitting out your new business premises. 9. Not creating a marketing strategy ...
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... salon contents and you're your commercial premises. Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... in specific industries within Australia. Business Insurance Whether you own your own business premises, work on site, or have a mobile business, protecting your assets with Business Insurance* can provide added peace of ...
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... package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs. Public Liability insurance : Business insurance that protects you from claims and supports ...
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... property; fitting out your business premises for your business needs; purchasing equipment; registration ... at hand. To learn all about small business insurance for your new business discover online now or call our friendly ...
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... to make sure you are covered for a fire damage, especially if you own your business premises. Double check your insurance policy wording to make sure you are covered for bushfires as some waiting periods and conditions ...
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... to it whilst on your premises or in transit. Portable Equipment*(also known as General Property insurance): Covers you for loss and damage to items of portable equipment associated with your business. These can include ...
read moreUnderstanding underinsurance: Keeping your business protected
... and change to match. Events that may prompt a change in your business insurance include: Offering new services Moving to bigger premises Hiring more staff Increased turnover and revenue Trading online Investing in new ...
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... cover for damage to business premises and/or equipment caused by fire, storm, theft, and other insured events. This type of landscape designer insurance is considered essential for small business owners. Cover is also ...
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... But there certainly is merit in making your business premises more appealing to your staff. And doing so ... small business insurance *. At BizCover we've created a truly simple way to get your small business insurance online ...
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... could be a good fit. You don't need a business premise or much equipment; all you require is a trustworthy reputation. ... not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions ...
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... at risk if a potential claim were to occur at your business premises, even if this is at your home-based business. Public Liability insurance can provide peace of mind and protection from potential claims for accidental ...
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... , where is may also be a requirement. If you are renting your business premises, you may need to have a minimum level of Public Liability insurance in place as part of your rental agreement It may be a requirement ...
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... for consumers to suffer an injury while on your business premises is a serious risk that retailers face. If ... or armed hold up. It is not uncommon for theft insurance to require the item stolen to have been securely stored ...
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... trading, you are likely to have more cash on your premises, so make sure your physical assets are covered against loss. There are many Business insurance cover options, each designed to protect different areas of your ...
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... cut costs and save. If you are renting your business premises have a chat to your landlord to ensure you ... offer a range of different types of business insurances to help protect your salon business, so in the event of a ...
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... cover different risks that may impact your civil engineering business. Working on site or having clients visit your business premises makes Public Liability insurance an important form of cover to protect you against ...
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... to navigate. Business insurance, commonly referred to as a ' Business Insurance Pack ' can provide cover for a range of business-critical things assets and events, including: your business' premises and contents ...
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... made any changes to their business premises or whether there is increased risk externally, which may require an update to their business insurance policy. Mason said business insurance should always reflect the current ...
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... , other risks can't be fixed by buying local. Business Insurance is an insurance package designed to cover your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm ...
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... To prepare for renewing your business insurance, review your business insurance and ask yourself the following questions about your business. 1. Have you moved to new business premises? Moving from a home office ...
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... , which will likely include at the very least: payments for equipment; business insurance ; rental costs for your business premises utility costs (electricity, gas, water) and fuel for your concrete pump truck; and ...
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... strategies for reducing your exposure to fencing business risks, including fencing insurance *. Defining a fencing business Fences are often installed in homes and business premises to improve privacy and safety, as well ...
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... or due to malicious damage or some other defined event listed in the policy. Building insurance* If you own your business premises, then you will understand how important it is to have your most expensive asset insured ...
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... to keep in mind when looking at protecting your business. Building*: if you own your business premises you will need to consider having some form of protection. Building Insurance covers your building if it is damaged by ...
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... and value details Security details of your business premises like does it have security alarms and grills on windows, etc. Start 2024 the right way and get your business insurance sorted in minutes. At BizCover we're ...
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... within gyms and fitness studios. For those that are currently renting their business premises, your landlord may require you have a Public Liability insurance policy in place. 4. Take the time to compare quotes There are ...
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... without leaving you severely out of pocket. Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as ...
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... policies you may already have. What is Theft Cover? Theft insurance * covers you against loss of contents and stock as well as damage to your business premises, as a result of theft or attempted theft involving forcible ...
read moreTop tips to boost your small business insurance confidence
... in the event of a claim. Luckily you don't have to be an insurance wiz kid to know the basics of business insurance. This quick business insurance guide is here to give you some tips and tricks when it comes to getting ...
read moreDo I Need Public Liability insurance?
... to your business: You have customers, suppliers or members of the public who visit your business premises, e.g ... I need Public Liability Insurance if I have a home-based business? Running your business from home can bring ...
read moreWhat’s the difference between Public and Product Liability insurance?
... A supplier visits your business premises and falls down the stairs injuring themselves What is Product Liability insurance*? Product Liability insurance* is designed to protect your businesses against claims which come ...
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... you rent your business premises, Public Liability and even Glass cover may be outlined as a requirement of your rental agreement by your landlord.Just like any other self-employed business, insurance is something which ...
read morePublic Liability Insurance Explained
... whilst walking through a doorway at the business premises, sustaining a hair-line fracture and ... ) of $30,000. Without the public liability insurance, the graphic design business would have been liable for over $100,000 ...
read moreEarthmoving and Excavators Insurance
... property damage Third-party bodily injury Their business premises and contents Tools of the trade Business equipment Keep reading to learn more about the insurance options available for earthmovers and excavators and ...
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... a client accidentally tripping down the stairs while visiting your business premises, or you unintentionally damaging their property. This is where Public Liability insurance can help save the day and reduce the impact ...
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... building can endure for the long-term, and this is where business insurance can play a leading role. Business insurance provides cover for your business' premises and contents against loss, damage or theft, also offering ...
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... injury or damage caused to their property caused by your business activities. Business insurance: Insurance that can provide cover for your business' premises and contents, against loss, damage or theft. It also provides ...
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... candle stand at the local markets, business insurance is something all businesses need to think about. So pour ... business premises, consider protecting your vital business assets. Can you imagine trying to run your business ...
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... business premises, in transit, or in your private residence . Business Interruption* - could your business survive being shut due to an insurable event, for a few days, a week, or longer? Business interruption insurance ...
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... out of their garage to behemoth corporations with premises the size of small cities. When a ... Additional Increase Cost of Working' is included, Business Interruption insurance may take care of both the moving costs ...
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... options to consider. What is Business Insurance? Business Insurance* is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs ...
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... which are covered by the policy Business Insurance Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... include things like rental of your premises, insurance cover , utility bills, and equipment costs. Then there are variable costs—those that will vary depending on how much business you are doing. For example, with ...
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... owners may especially benefit from reducing their risk through business insurance. Cleaners typically travel to multiple sites and work at third-party premises often. They also occasionally may perform their work in ...
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... where would you be without your business assets? Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... hole in the front of your premises clearly leaves your business exposed to security issues, and could ... an option that can be taken out as part of your Business Insurance policy. In some cases may even be a requirement by ...
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... ? Relocation - if your premises needs to be repaired, could you afford to relocate , pay rent and the running cost of your business at another location? This is where Business Interruption insurance * comes in handy ...
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... for injuries and property damage. Business Insurance* Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs ...
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... are essential. Without them how would you be able to get the job done? Contents insurance covers your business contents or stock at your premises if they were damaged in a fire, storm or due to malicious damage or some ...
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... are covered by the policy. Business Insurance* Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... are covered by the policy. Business Insurance*- Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... possessions were lost, damaged, or stolen? Business Insurance * is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as ...
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... soon as possible and get your small business up and running and trading again. Business Interruption insurance can provide coverage for loss of turnover due to damage to your own premises as a result of an insured event ...
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... . Money cover is available under Business Insurance pack and will protect money belonging to your business that is: Stolen lost or damaged on your premises in transit to or from your premises or in your personal custody ...
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... cover for very different kinds of business risks. Business insurance* is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such ...
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... . This includes defence costs cover. Business Insurance* Business Insurance is an insurance package designed to provide cover for your business contents , stock, tools and commercial premises when an insured event occurs ...
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Business Insurance Coverage
When looking for cover for your business there are a range of business insurance products that can provide financial cover for your business, some main types of coverages include:
- Public Liability insurance
- Professional Indemnity insurance
- Business Insurance
A business insurance pack can provide cover for your business premises and contents, against loss, damage or theft as well as cover against any resulting financial loss from an insured interruption to the business. The type of business insurance and amount of cover you select will depend on the nature of your business and what areas you think you are the riskiest for you. Pick and choose the right business insurances that will suit you best. And you can include Public Liability Insurance to ensure you are not financially responsible for the costs of a legal claim should a third party get injured or suffer property damage whilst you are doing business.
What is typically covered by Business Insurance?
A) Material damage loss for your physical assets
B) Financial loss due to Business Interruption
What is typically not covered by Business Insurance
- Negligence/breach of duty arising from an act, error or omission as a result of your professional services
- Flood damage is generally excluded from standard policies
- Known claims and circumstances
Industries that may require Business Insurance
Across Australia there are many different types of small businesses that help the economy going, from personal trainers to IT wizards, coffee shop owners, cleaners and the trusty tradies. While your day to day operations as a business may be different, there is always an element of risk when your run your own business. This is a snap shop of some of the typical type of businesses that may require business insurance.
Get the right type of Business Insurance
Your business may be considered ‘small’ but it’s big to you and big to us. That’s why we want to make sure you have the right protection. We offer various cover options to suit a variety of businesses.
For some types of businesses, business insurance may be a requirement, for example:
- You may need to have your own Public Liability insurance sorted before you step onto a construction site
- If you work on contracts you may be required to have a minimum level of Professional Indemnity insurance in place
- If you are renting your business premises, your landlord may require you to have your own Public Liability and in some instances Glass cover sorted
Frequently Asked Questions on Business Insurance
Business Insurance provides you with protection if your business assets or premises are damaged, stolen or if you sustain financial loss due to an insured interruption to your business.
Business insurance usually falls into three categories:
a) Material damage loss for your physical assets
b) Financial loss due to business interruption
c)Personal injury/property damage claims against you
When it comes to small business insurance, there are multiple coverage options to select from. Each type of cover is designed to protect against different risks that your business may be exposed to. Some of small business Insurance coverage options include:
Building Insurance* which covers you for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).
General Property Insurance* which covers against theft and accidental damage of equipment, such as tools, laptops and mobile phones, while you are away from your office.
Office Contents Insurance* which covers you against burglary, theft and accidental damage of office equipment such as chairs, desks and computers.
Public Liability Insurance* which covers you if a third-party claim that your negligent business activities caused them injury or property damage. This includes defence costs cover.
Glass Insurance* which covers you for damage to internal and external glass, mirrors, porcelain and signage at your business premises.
Tax Audit Insurance* which covers fees of any accountants engaged in connection with an audit by the Australian Taxation Office.
Business Interruption* which covers you for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire).
Business Insurance is a packaged solution designed to protect your business from property, business and liability risks. There are different coverage options available under a Business Insurance pack, sometimes referred to as a Biz Pack.
The great thing about small business insurance is that you can select the type of coverage that is tailored to the needs of your business. Different businesses require their own unique forms of cover to protect them from the unique risks of their industry. For example, the types of risks a restaurant owner faces will be different to a dog groomer.
A common question SME operators ask is, “How much does Business Insurance cost?”. Unfortunately, there’s no one-price fits all answer. Some of the factors that can influence the cost of a Business Insurance policy include:
- the type of cover and cover options taken
- the nature of your business
- the value of the property insured
- where your business is located
- the number of employees you have
- your annual turn over
- claims history
Have a chat to our BizCover sales team about the different kinds of Business Insurance we have available from some of Australia’s leading insurers to get an accurate cost of your Business Insurance policy.
Just because you’re working from home doesn’t mean things can’t go wrong. Every occupation and workplace comes with its own level of risk, and insurance could help you manage the financial fallout if things don’t go to plan.
These are a few of the home-based businesses we cover:
- Administrative support services
- Answering & reception services
- Beautician
- Consultants
- Dog walking
- Dog grooming
- Graphic designer
- Hairdresser
- Online shops
- Photographer
- Writers
- Web developer
There are many types of insurance that home-based businesses consider, such as:
Public Liability*
Do you have clients visit your home-based office? Do you visit them in their office or off-site locations? You may want protection in place should you accidentally cause injury or damage to their personal property.
Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public brings a claim against you due to their being injured or sustaining property damage as a result of your negligent business activities.
Cyber Liability*
Working from home may make you a desirable target for cybercrime. The Australian Cyber Security Centre estimates that up to 200,000 Australian small office and home office routers may be vulnerable to compromise1. If your systems were attacked, the impact could be destructive to your business.
Cyber Liability insurance covers losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach.
Your coverage may include cover for expenses and legal costs relating to the following:
- Data breaches
- Theft or loss of client information
- Business interruption costs
- Forensic investigation
- Data recovery
- Extortion
- Fines and penalties
- Crisis management costs (to restore your business reputation after an attack or data breach)
- Legal costs from any ensuing civil action taken against you or your company
ASD’s ACSC Annual Cyber Threat Report, July 2021 to June 2022
Personal Accident & Illness*
Being self-employed, you may want to consider protection for your most important asset—you. This is where Personal Accident and Illness insurance comes into play, especially when you don’t have access to sick leave.
Personal Accident and Illness insurance can provide cover should you become permanently disabled or pass away as a result of an accident. Cover can also include a weekly benefit for loss of income if you are unable to work as a result of an unexpected injury or illness (even if it occurs outside of your employment).
Business Insurance Pack*
Looking for cover for your business contents, tools and equipment? What about protection to help you manage unplanned business interruptions, tax audits, or other risks associated with running your business?
You may want to consider a Business Insurance Pack, a customisable insurance package designed to help you cover the events above (and sometimes more) when an insured event occurs (such as fire, storm, theft or even accidental damage).
Options available through most Business Insurance Packs include (but are not limited to):
Contents*
Your home office may be full of business assets required to perform your job, like equipment, stock, and furniture. Even though these items are technically kept in your home, they may not be covered by your personal home & contents policy.
Contents insurance provides cover for loss of or damage to items such as business equipment, stock, plant and machinery, records and furniture belonging to you at the insured location.
Portable Equipment*
Running a home-based business doesn’t mean you’re always at home. If you are on the road and need items like your laptop, tools and equipment to perform your profession, you might consider protecting them with Portable Equipment cover.
Portal Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.
Business Interruption*
Anything can happen when you’re running a small business. If unplanned events force a temporary shutdown, Business Interruption cover could help you keep things going.
Business interruption provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It’s designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).
Tax Audit*
A call from the ATO is enough to frighten many home-based business owners, and a tax audit is even scarier! You might want to consider cover to help you manage the costs of a business audit.
Tax Audit Insurance covers a business for specified costs in the event that it is selected by the Australian Tax Office for auditing. The policy offers coverage for the costs of accountants and other nominated professional fees incurred in the course of an audit.
Public Liability and Professional Indemnity insurance are two fundamental forms of cover that both protect against very different risks. The main difference is the type of duty of care that each cover seeks to provide protection for.
Public Liability insurance* is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities.
It also provides protection for legal and defence costs associated with a covered claim.
Professional Indemnity (PI) insurance* provides protection for businesses that provide specialist services or professional advice. It is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.
Product Liability insurance* commonly forms part of a Public Liability insurance policy, providing protection for your business against claims by third parties relating to property damage or personal injury caused by your products.
The term ‘Product’ is typically defined as anything that has been manufactured, constructed, erected, assembled, installed, grown, extracted, produced, processed, treated, altered, modified, repaired, serviced, bottled, labelled, handled, sold, supplied, re-supplied, distributed, imported or exported by you, or on your behalf.
Product Liability insurance is designed to support you when your products cause a third party to sustain personal injury or property damage. Product Liability insurance is intended to cover compensation payable to a third party and your defence costs (these are the reasonable costs incurred while investigating and defending a covered claim including legal fees, experts fees and court costs).
Product Liability insurance is there to help you from the moment an allegation of negligence relating to your product is made.
Always check the limit of cover offered by your policy and any exclusions or geographical limitations.
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