Public liability insurance is a cover that protects businesses from external claims against them. This may be where a person or party insists that the business may be responsible for injury to a person or damage to property while providing their services. When a third party makes a claim against you or your business it is crucial to have public liability insurance in place. Negligence claims and legal fees can be debilitating for a small business. They can range from a few hundred dollars to millions depending on the severity of the allegation. If you are unable to cover the costs initially, your personal assets could be on the line. Public liability insurance can cover these costs and also take care of any legal fees. Keep in mind, this insurance only covers claims made by third parties, external people or the general public. This insurance does not cover your employees. If this is something that you require additionally, visit our workers compensation insurance tab to find more information. This insurance is not mandatory in all states but it can be an industry expectation that you hold a valid policy before going onto a work site or construction site. Some companies even have a section in their contract for you to sign stating that you hold a valid certificate of policy. It is vital to defend your business and have financial security in place to cover the unforeseen.

How much does public liability insurance cost?

As we’ve mentioned, it is essential to plan for the unexpected. Injuries on worksites and damage to property occur all the time. The cost of public liability insurance depends on the nature and size of your business. It also depends on the amount of staff you employ and whether your industry is considered to be low or high risk. Generally, your business will pose a higher risk if the public frequent your workplace and you have lots of employees as this introduces more opportunity for accidents to occur. Some examples of high-risk industries are mine sites, offshore sites, work involving high rise buildings, airports and train stations. At All Trades Cover we offer $5 million, $10 million and $20 million liability cover. These policies can start from as little as $30 per month. The average cost of public liability insurance is between $50-60 per month. At All Trades cover, we recommend that all businesses take out public liability insurance. We urge any tradesmen that don’t have a direct employee to protect themselves with comprehensive cover. This includes self-employed workers, contractors and subcontractors. Get an online Public Liability Insurance quote from us today to determine your premium and costs.

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Alternatively, you can call us on: 1300 826 850

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