Public Liability Insurance* for Darwin businesses

 

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.

According to the Australian Bureau of Statistics, there are 6,956 businesses in Darwin, with 898 additional new businesses registered in FY 17-18.

The main employing industry is Public Administration and Safety, employing 18.3% of the population, followed by Health Care and Social Assistance, which employs 11.3% of the population, and closely followed by Construction, an industry which employs 9.8% of the population.

The sector with the largest amount of registered businesses is Construction, with 1,264 businesses registered. The second largest sector is Rental, Hiring and Real Estate services, with 1,076 registered businesses, followed by Professional Scientific and Technical Services, with 829 registered businesses.

Like all small business owners, Darwin businesses each 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 Darwin, 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.

What does Public Liability insurance cover? 

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:

• Injuries to your employees
• Damage to your own property
• Costs of rectifying faulty workmanship
• Professional negligence
• Contractual liability
• Motor vehicle claims
• Events occurring before or after the policy period

How much does Public Liability insurance cost for Darwin businesses?

On average, small businesses in Darwin pay around $30.80**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:

• The type and nature of your business
• Your business turnover and size
• The amount of insurance cover your business needs