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Which Tradesmen Should Consider Public Liability Insurance
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Public liability insurance provides financial protection if you cause damage to property or injury to a person as the result of your actions at work. Liability insurance also covers your legal bills if you need to hire a lawyer as part of the claims process. Although public liability isn’t generally compulsory for tradesmen in Australia, it offers essential financial protection for your business. No matter how careful you are in your work, unexpected damage or injury can occur to your clients or any other third party. The financial implications of a liability claim can be devastating, which is why you need to ensure you have public liability insurance in place.
Public liability insurance generally isn’t compulsory in Australia but many employers will request confirmation of liability cover before they take you on and it’s a condition attached to many contracts. There are also certain worksites that you won’t be able to enter without public liability cover. Tradesmen work in an industry which is exposed to a unique set of risks, with the nature of your work meaning incidents of injury and damage is more common compared to other industries.
The cost of your public liability insurance will depend on a number of factors. These include the type of work that you carry out, the number of employees you have working for your, the location of your work and the size of your business. The cost of your premiums will also depend on the level of public liability insurance that you require. The higher your risk of liability claim, the more you can expect to pay in premiums.
It’s important to remember that public liability insurance offers significant financial protection and without adequate cover in place, it could be financially devastating for your business. Consider how much liability cover you require and ask your insurance broker for advice so you aren’t underinsured. If your circumstances change, such as taking on new employees, let your insurance broker know as this may require a change in your level of cover.
For most tradesmen, public liability insurance is a basic form of cover and it is an industry expectation. Below are just some of the trades we work closely with who should consider having public liability insurance in place.
GSK Insurance Brokers lead the industry when it comes to innovative insurance solutions. We work with Australian businesses of all different shapes and sizes to find high-quality insurance cover at a competitive price. Our experienced brokers will take the time to analyse your situation and ensure that all of your areas of risk are appropriately covered. We aim to provide the best possible customer service and your broker is there every step of the way, from the initial stages of taking out your cover to stepping in at claim. At GSK Insurance Brokers, we insure your success.
For public liability insurance in Perth, contact GSK Insurance Brokers on (08) 9478 1933.
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