Public Liability Insurance - Does Your Business Need It?

Public Liability Insurance – Does Your Business Need It?

Running a business means constantly ensuring that you’ve got all areas covered professionally and legally. Regardless of your industry, you’re most likely going to find the need for some form of protection, backup or safety net.

If you’re an Australian business, public liability insurance may be one of the fields you need to look into. Having public liability insurance coverage can help protect you from a costly public liability claim.

What is public liability insurance?

In its simplest terms, public liability insurance protects businesses using public spaces against liabilities relating to property damage or bodily damage. In addition, it can offer holders protection from public liability claims against them, regardless of whether they are legitimate or not.

What are the benefits?

Perfect for businesses across hairdressing, local stallholders at markets, those involved with festivals and all other public events, this coverage ensures the holder is backed if an unexpected incident arises.

When businesses choose not to carry this option, they may fall vulnerable to very costly claims made against them—ones they may be left struggling to resolve financially.

How does a public liability allegation arise?

Incidents can occur at any time, and sometimes for reasons that weren’t assumed to be a major issue. For some, there is a greater chance of liabilities occurring than for others, but all businesses working in a space where members of the public have access should thoroughly consider opting for this protection.

If an incident does occur within the premises of the business, that involved individual can raise a claim against the owner. In most cases, the aggrieved can put forward the argument that the business had the responsibility to ensure their safety, but it was breached by a certain action, lack of safety or the like.

If you’re concerned about public liability claims, discussing your options with a professional is the best way to go. Don’t leave it all to chance—back your future, your credibility and your finances.

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