It is often said that small business is the engine room of Australia.
There are hundreds of different types of small business in Australia, but almost all of them have one thing in common, which is the need for public liability insurance.
Accidents happen in business every day. Sometimes they are due to negligence and sometimes they are simply pure accidents. Either way, if you cause property damage or personal injury to another person through your business activities, it is going to cost you.
Many such claims can be large enough to wipe out a few months or even a few years of profit, and in some cases the sums involved are serious enough to bankrupt a company and potentially its owners.
The easiest way to avoid such problems is to have a suitable small business public liability insurance policy in place.
Public Liability for Small Business
A public liability insurance policy can protect a small business by covering the financial costs of any claim against the business.
Public liability covers a range of different scenarios from someone injuring themselves on your premises, through to property damage that you cause whilst working at their home or business premises.
Claims involving serious injury or death can mount into the millions in some cases, and this would certainly wipe out most small businesses. However with the most basic public liability policy covering up to $5 million you can rest assured that you business is protected.
Mobile Business
Many small businesses in Australia operate as mobile businesses. Tradesmen and women feature prominently in this category, however there are a huge range of other business types including cleaners and other service providers who also operate mobile businesses.
Often a mobile business will operate from home, however the only work done at home is paperwork and there are no visits to the home by clients. In this case a mobile business owner needs only to insure the work they do away from home.
A number of Australian insurance companies have identified this need, and have created public liability insurance policies specifically designed for small businesses not operating from their own workshop or premises.
Professional Services
Professional service providers such as mortgage brokers and financial advisers can fall into two categories when it comes to public liability insurance requirements.
Some advisers and consultants operate from an office where clients will visit them, however many operate as mobile services visiting clients at their home or office.
For professionals with their own premises public liability insurance will be a must, however if you do all of your work on the road and have no client contact at your own home or office you may not require public liability insurance.
If you are unsure whether or not your small business requires public liability you should speak with your insurance broker or other insurance professional.
Obtaining Quotes
Quotes for small business public liability insurance can be obtained directly from the insurance companies in some cases, however some of the insurers will only offer quotes via insurance brokers.
Here at Public Liability Insurance Australia we have a network of insurance brokers who assist small businesses Australia with quotes and service on their insurance needs.
To obtain a public liability insurance online quote from us simply click on the quote button and complete your business details.
Comparing Liability Quotes
Regardless of how you obtain your insurance quotes, it is important to compare the quotes to ensure you are obtaining the best value public liability insurance for your small business.
Whilst most public liability policies are very similar in terms of their core features and benefits, there are some extra benefitsavailable on certain policies which are worth considering.
When running a small business it is important to keep an eye on the business’s fixed costs, but it is important not to fall into the trap of simply choosing the cheapest public liability insurance policy that you can find.
Sometimes the cheapest policy will be suitable, but you need to make sure that the policy is going to meet all of your needs and not let you down at claim time.
For more information on small business public liability insurance please speak with your insurance broker or get in contact with us for an obligation free chat.