Public Liability Insurance

Public Liability Insurance covers your business for your legal liability for personal injury to another person (other than employees) or damage to property owned or controlled by someone else, which is caused by an occurrence in connection with the business. With the upsurge in legal action being taken by individuals against businesses, can your company really afford not to have Public Liability Insurance? The cost of claims can often be enough to shut down a small business. As a business owner, you must consider all potential risk exposures when deciding whether public liability insurance is needed. You must then decide how much coverage is appropriate and cost-effective. Every business is different so your needs will not match the needs of others. Most insurance companies reflect this by offering a wide range of covers to suit your needs. They also generally offer package discounts when multiple covers are combined. The majority of companies also offer a choice between monthly or annual payments so you can fix a payment plan that suits you. You should also consider using a company that offers the possibility of making claims over the phone to minimise the hassle that comes with paperwork. Many major insurance companies such as Allianz and BizCover offer public liability insurance. As with everything you should shop around to get the best price.

Businesses with the greatest public liability risk exposure are occupiers of premises where large numbers of the public are present, such as shopping centres, pubs, clubs, theatres, sporting venues, markets, hotels and resorts. As expected, the risks increase exponentially when alcohol is involved. If your business fits this bill then Public Liability Insurance is definitely for you.