Public Liability Insurance is one of the most widely used forms of insurance by tradies due to the fact they generally work in a higher risk area than other occupations. For builders, Public Liability Insurance is particularly important to protect yourself financially following a claim for damages from a third party.
What is Public Liability Insurance?
Public Liability Insurance is designed to cover you financially if you’re found liable for damages after a claim from a third party. This includes damage to property or injury to another person. Public Liability Insurance will also cover your legal costs if you seek legal assistance at the time of a claim. Remember, a claim for damages can run into the thousands of dollars and you could be liable for the costs of repairs, replacements, medical bills or any number of additional expenses. Public Liability Insurance will only cover you for damages which have occurred in your capacity at work and won’t cover damage caused to you or employees.
If you’re a builder, the nature of your work often means you’re at higher risk of something going wrong which is why Public Liability Insurance is essential. For example, someone tripping over equipment or damage happening while going about your daily work is all too common and the last thing you need is to be left with a bill for damages.
Builders can get Public Liability Insurance for up to $20 million which means you can be covered no matter how big the project you’re taking on. The cost of Public Liability Insurance will depend on the specific work you’re doing, the risk involved in your work and the number of employees you have working for you. For builders, you may find you’re unable to enter certain worksites without having Public Liability Insurance in place and you might also need to prove you have cover before being able to take on work as a subcontractor.
Keeping you covered
For builders, Public Liability Insurance is essential due to how easy it can be for a third party to be injured or for damage to occur. No matter how careful you are in your day to day work, it can be easy for accidents to happen and before you know it you could on the receiving end of a claim. Don’t leave things to chance – make sure you’re covered and give yourself financial peace of mind by taking out Public Liability Insurance today.
All Trades Cover offer insurance exclusively to tradies and as one of Australia’s fastest growing providers, we give you fast, competitive and friendly service. We have the knowledge to ensure you have the best insurance package in place to suit your specific needs and we provide policies that offer more cover for tradies. If you’re not sure what types of insurance would best suit you, have a chat to your insurance broker.
To discuss Public Liability Insurance or for any other questions, contact All Trades Cover today. You can also fill in our hassle free online form for a quick quote.
