Public Liability is essential for tradies but before you take out your policy, it's important to know what it's all about. We're here to help by answering some of the most frequently asked questions about public liability.
What is Public Liability Insurance?
Public Liability Insurance will cover you financially if you're found liable following a claim for injury to another person or damage to property which has occurred as a result of your actions at work. The costs involved with a claim could include legal costs, medical bills, rehabilitation costs, repair and replacements.
Who Needs Public Liability Cover?
Most tradies will need public liability cover as it protects you against unforeseen circumstances which can easily happen in your day to day work. A lot of traides will find that you can't enter certain work-sites or obtain employment as a subcontractor unless there is Public Liability Insurance in place.
How Much Will My Public Liability Policy Cost?
The cost of your Public Liability Insurance will depend on a number of things including the type of work you do, the risks involved in your work, the size of your business and number of employees, and how much you will be insured for.
How Do I Compare Different Public Liability Policies?
With Public Liability Insurance, it's not just about cost. If you get a number of quotes, often the cost will be quite similar but there may be differences in the policy itself. Have a close look at the Product Disclosure Statement or have a chat to your insurance broker as they will be able to make sure that the specific policy covers all your areas of need.
What Are The Exclusions With Public Liability Insurance?
There are some exclusions when it comes to Public Liability Insurance and these can vary between policies so make sure you read your Product Disclosure Statement carefully. However, one of the main exclusions is that your public liability policy won't cover you or your employees for injury or damage to property, only a separate third party. Your policy also generally won't cover unlawful behaviour or damage or injury caused deliberately.
Do I Also Need Public Liability Insurance?
Product Liability Insurance covers any damage or injury caused by products you've supplied or installed. This type of cover is generally included in your public liability policy but check with your insurance broker that this is the case, particularly if you supply or install products as part of your work.
If you have any further questions about public liability and how it applies to you, have a chat to your insurance broker and they will be able to help. At All Trades Cover, we provide tradie specific advice to make sure your insurance package suits your needs.
To discuss public liability insurance or any other types of cover, contact All Trades Cover on 1300 826 850 today. For a quick and easy quote, fill in our online form for a hassle free quote.