Public Liability Insurance is one of the best known and most widely used forms of insurance for Australian tradies, and for very good reason. It covers the financial costs of damage caused to property of injury caused to another person if you're found liable for damages following a claim. It can also cover the legal costs associated with such a claim.
Benefits of Public Liability Insurance for Tradies
The most obvious benefit of public liability insurance is that it means you don't need to shoulder the financial cost if you're found liable following a claim. Claims can run into the thousands, or even hundreds of thousands, of dollars depending on what has happened and the last thing you need is to use your own money to pay for damages. In the worst case scenario, some small businesses have found themselves facing bankruptcy following a claim. Having public liability insurance offers you peace of mind and means that you won't be out of pocket following a claim.
Even if the damage that has occurred wasn't your fault, you face having to pay legal costs for a lawyer to represent you in court. In this scenario, you could find yourself in a situation where you don't need to pay any damages but have been left with legal bills which can be just as costly. Public Liability Insurance takes the worry out for you by covering these costs and giving you financial peace of mind.
Some tradies pride themselves on the care they take in their work and may thin that there's no need for public liability insurance for this reason. However, often the circumstances that lead to a claim for damages are completely out of your control and you could have done nothing to prevent it. While it's important to take measures to avoid any claims in the first place, such as keeping floor space clear of equipment to avoid others tripping, accidents can happen no matter how careful you may be.
Public Liability Insurance for Peace of Mind
Don't leave yourself open by forgetting to take out public liability insurance. For Australian tradies, it's an essential form of cover and means you're covered for the unexpected. It's important to remember that you may find it difficult to find work as a subcontractor or to enter work-sites without the insurance in place. For your own peace of mind, speak to your insurance broker today about public liability insurance.
At All Trades Cover, we specialise in providing insurance for tradies and can find you the best insurance package for your specific needs at a competitive price. We understand your business and can help you ensure that all areas of risk are appropriately covered. If you have any questions regarding your insurance needs, don't hesitate to contact us at any time.
To take out your public liability insurance policy or for any other questions, contact All Trades Cover on 1300 826 850 or fill in our easy online form for a quick quote.