Own Your Own Business? How To Tell If You Need Public Liability Insurance
If you own a business in Australia, there are certain insurance policies that you're required to carry. Some of those policies include public indemnity insurance, business insurance, and business interruption insurance. There's also one type of insurance that you should add to the list. That insurance is public liability insurance. If you don't have this coverage, you could be exposed to liability claims, especially where personal injuries are concerned. If you don't have public liability insurance for your business, read the list provided below. If any of these situations pertain to you, it's time to speak to an insurance agent about purchasing public liability insurance for your business.
You Have Customers
If you own a business, and customers visit your location for services, chances are good that you need to have public liability insurance. Each time customers visit your establishment, there's a chance that someone will suffer an injury. If a customer is injured while at your place of business, you could be held liable for those injuries. Without public liability insurance, you may be required to provide medical care and compensation out of your own pocket. That's why public liability insurance is so beneficial. This type of business insurance will cover the cost of those injuries.
You Provide a Service
If you provide a service that requires you to visit homes, offices, and other places of business, you need to invest in public liability insurance. You might think that you don't need public liability insurance since you don't have customers at your place of business, but that's not the case. You could cause damages to a customer's property, or your equipment could cause injuries. If those situations arise, you could be held liable for damages, and for injuries. Luckily, public liability insurance will protect you in those situations.
You Host Public Events
If you operate an exhibit at local trade shows or other public venues, now's the time to add public liability insurance to your business policies. You might not realise this, but you may be held liable for any incidents that occur while visitors are at your booth. This is especially true where tools of the trade are concerned. For instance, a visitor to your booth could sustain injuries while testing your products. If that happens, you need to have public liability insurance to protect you against injury claims.
Don't take chances with personal injury liability claims. If you own a business, you need to talk to your insurance agent about adding public liability insurance to your coverage.