Public liability insurance(PLI) is essential for all small business owners and those who are self-employed. If you come into contact with the public in the course of your work, then it is crucial to have some cover to mitigate against some of the risks attached.
Public Liability Insurance is an excellent solution for protecting your business from any claims such as these
If you provide seating in your offices, they can break and result in a claim.
If you have tiled areas on your premises, there is always a danger of slips and falls.
If you are holding a public event and a child gets injured.
You are a building contractor, and someone enters your site and gets injured.
What does Public Liability insurance cover?
This type of insurance is designed to defend a company from the damages caused by lawsuits brought by portions of the public. These suits are becoming all too common in Australia and are causing business people to close their doors every day. If you intend to provide a service to the public, you will leave yourself open to public liability lawsuits. Regardless of whether these are legitimate or nefarious, taking cover against these suits could be the difference between the success and failure of the business.
There are different types of cover available
Public Liability Insurance incorporates the costs of protecting your business through a lawsuit and the payments of claims to any member of the public.
Bodily Injury PLI guards against the danger of someone getting hurt on your business premises. The coverage includes typically any areas outside the property, too, like pavements and parking areas.
Property damage coverage covers the security of the company from harm caused to someone else’s property while they are on that property or while you are doing work.
Legal expenses coverage is designed to incorporate the cost of employing and paying a lawyer to represent you in any PLI case.
Regardless of the size of your business, if you intend to provide a service that involves contact with the public, it would be foolhardy to think you can do so without Public Liability Insurance. Get an online quote for public liability insurance in Australia.