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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 is injured or sustain property damage as a result of your negligent business activities.
According to the Australian Bureau of Statistics, there are 15 461 small businesses in Adelaide, with about 1,500 additional new business registered in FY17-18.
The main employing industry is Healthcare and Social Assistance, employing 14.9% of the population. Professional Scientific and Technical Services employ 12.7% of the population and Accommodation and Food Services employs 11.7% of the population.
The sector with the largest amount of businesses registered is Financial and Insurance Services with 5,738 businesses registered. The industry with the second largest number of businesses is Rental, Hiring and Real Estate services, with 2,150 businesses. The industry with the third largest amount of businesses is Professional Scientific and Technical Services, with 2024 registered businesses.
Like all small business owners, businesses in Adelaide have a legal responsibility to take reasonable steps for the safety of their customers, suppliers and the community and for their property.
Most Public Liability policies also extend to cover Product Liability. If you sell, supply or deliver goods, even in the form of repair or service, you may need cover for negligence claims against you where your product has caused injury, death or damage.
Even the most careful businesses run the risk of injuring someone or damaging something during their operations. Chances are, like many other small businesses in Adelaide, if you were faced with a public liability claim, the financial impact of paying the claim and associated legal fees (including defence costs) could potentially send you out of business. That’s why you should consider Public Liability insurance to provide the financial protection your business deserves.
Public Liability insurance covers claims for personal injury suffered by a third party (such as a customer, supplier or member of the public) due to your negligent business activities. It also covers claims for damage to property owned by a third party as result of your negligent business activities. It’s clear that the legal costs of a public liability claim could pose a financial burden to a small business. Public liability Insurance gives you peace of mind by picking up the reasonable legal and defence costs associated with a covered claim.
The following activities are typically not covered by a Public Liability insurance policy:
“I was filling in the online form, got stuck and just rang to find out how to sort that and the wonderful lady just sorted everything. I was so pleased as I am already busy in the role and needed insurance sorted. THANKS”
On average, small businesses in Adelaide pay around $37.50**per month for a Public Liability insurance policy. Public Liability insurance is one of the most popular types of insurance for businesses. In fact, it is likely to be very important for almost every kind of business, from those that operate in the trades and service industries, to businesses that are predominantly office-based, such as consultancy occupations.
Given the various industries and occupations Public Liability insurance can cover, the cost of it can vary greatly. This is due to several factors including: