Do I need Public & Products Liability for my Business?
Public Liability is a big deal. If a client visits your business, or your employees visit client sites and something unfortunate were to happen, your business is at risk of a third party claim for personal injury or property damage.
The Australian Government strongly recommends businesses have public liability insurance to cover themselves for potential lawsuits which often equate to far more than the business is able to pay out.
Some Limitations
Public Liability Insurance covers your business in the event of property damage or personal injury to a member of the public (including your clients) as a result of your business activities. This would include if the accident was caused by a member of your staff. It does not, however, cover injury to your staff. For this you need to consider Workers Compensation Insurance
What does Public Liability Insurance Cover?
Typically, Public Liability Insurance will cover you for the following:
- Injury to someone else – e.g. If someone trips over equipment at your business and injures themself
- Damage to someone else’s property – e.g. If you’re an electrician and accidentally break their glass coffee table whilst installing a pendant light
- Legal Costs – Legal defence and compensation costs related to a claim against you
- Damage to property in your control – e.g. If you damage a washing machine while it’s in for repairs in your store
Public Liability generally includes cover for Products Liability, which is protecting you against claims caused by the products you supply, create or work on. For example, a restaurant being sued by a customer for food poisoning would fall under product liability.
Public Liability plays an integral role in protecting you and your business. It’s important you get the right advice, to ensure you have the right cover in place for any potential exposures. We are specialists when it comes to assisting business owners with their Public Liability Insurance needs.
Find out more and make sure you have the right cover in place. Give the team at Reg Leis Insurance Services a call to discuss. Contact Us Here
