It‘s one of the most common types of insurances for tradies, but do you really know why? We break down the ins and outs of Public Liability insurance and what you need to know, without the boring bits.
So what is Public Liability insurance?
In a nutshell, Public Liability insurance* is there to protect you and your business if a customer, supplier or member of the public were to injure themselves or experience property damage due to your negligent business activities.
It also provides assistance with the legal costs associated with managing claims that are covered by the policy.
Why do tradies need to consider it?
Unless you’ve got a money tree growing out the back, the financial consequences of a claim could not only put you out of business but jeopardise your personal finances too. Public Liability insurance covers your back when things don‘t quite go plan.
As a tradie, it can even be a contractual requirement that you have Public Liability insurance in place well before picking up the tools and putting boots on site. Always check the level of cover that is required, as there are different limits available.
For some trade professions, Public Liability insurance may be a legal requirement to obtain a license to work.
What does Public Liability insurance typically cover?
- Personal injury suffered by a third party (e.g. a customer, supplier or member of the public) due to your negligent business activities
- Damage to property owned by a third party due to your negligent business activities
Legal and defence costs associated with a covered claim
What does Public Liability insurance typically not cover?
- 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
A real-life Public Liability claim
The insured was a plasterer installing a ceiling. When he went inside the building, he put his foot on the wrong timber and broke the plaster. The plasterer‘s insurer settled the claim paying just under $1,000 for the damage.
Sorting out your Public Liability insurance shouldn‘t be a hassle and at BizCover, our goal is to make insurance easy. Jump online or on the phone, provide a few details about your business to receive multiple quotes from some of Australia’s leading insurers in minutes.
Paperwork and jargon is not our style, so there are no forms to fill out asking for your life history, just the stuff we need to know to get you covered.
*As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document. The information contained on this webpage is general only and should not be relied upon as advice.