Public liability insurance is one of the most popular insurance products purchased by tradesmen in Australia and it isn’t any wonder as it puts your clients’ and your business’s interests at the forefront. It is not a legal requirement in all states or for all trades but you should check the regulations around your occupation to be sure. Regardless of regulations though, here are three reasons all tradesmen need public liability insurance before they step on site.
Protection for third party injuries
Public liability insurance protects you in the event your business operations result in injury or even death of an individual. For instance, if you’re an electrician and install some faulty electrical cabling and several days later your client is electrocuted as a result of this, you’d be liable for the costs associated with their medical treatment and associated sick leave they’ll need to take while they recover. Similarly, working on site you are often surrounded by other tradesmen working on other parts of the building project. If one of them is injured on site as a result of your actions, you’ll be liable for their medical costs. Public liability insurance provides the cover you need to finance these kinds of injuries.
Protection for damage against property
Public liability insurance covers you in the event your work practices cause damage to someone’s property. Now, we know you’re a professional and you operate to the highest standards in every job you do, but even the most proficient tradesmen can make mistakes and if that happens, your business will be liable for the cost of repairs or replacements. That’s why you need to be prepared with the right cover for your business activities. Like personal injuries, damage to property can also occur long after you’ve left the worksite too. If something isn’t installed correctly or a fitting is the wrong size, this could cause damage to the building overtime and you could be liable. For instance if you’re a plumber and you make a mistake installing some pipework and a pipe bursts and floods the kitchen, buckling all of expensive bamboo flooring your client has just put in, your business would be held responsible for the costs of replacement floorboards and installation for the customer.
Protection for your business reputation
The last reason it’s paramount you have public liability insurance is to protect your business’s reputation. When an accident occurs at your hands, your business is not going to be looked upon favourably and you are likely to have some very unhappy customers. But having public liability insurance shows you are putting their needs first, that you are a responsible tradesman and in their hour of need you will step up and take responsibility for your actions and ensure the situation is rectified as soon as possible. This is really important for your business image and reputation as a preferred service provider.
Most trades businesses cannot afford the risk or the expense of accidents and injuries like these, so to arrange public liability insurance for your business, contact All Trades Cover on 1300 826 850 or get a quick public liability insurance quote online today.
