Public Liability Insurance* for Perth businesses 

Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities.

According to the Australian Bureau of Statistics, there were 12,253 businesses in Perth, with 1,402 additional new business entries in FY17-18.

The main employing industry is Professional Scientific and Technical Services, an industry that employs 14% of working the population. This is followed by Accommodation and Food Services, employing 13.6% of the working population, and Healthcare and Social Assistance, an industry that employs 10.4% of the working population.

The sector with the largest amount of registered businesses is also Professional Technical and Scientific Services, with 2,314 businesses registered. The second largest sector by number of registered businesses is Financial and Insurance Services, with 2,308 registered businesses, followed by Rental, Hiring and real Estate Services, with 1,902 registered businesses.

Like all small business owners, businesses in Perth each have a legal responsibility to take reasonable steps for the safety of their customers, suppliers and the community and for their property.

Most Public Liability policies also extend to cover Product Liability. If you sell, supply or deliver goods, even in the form of repair or service, you may need cover for negligence claims against you where your product has caused injury, death or damage.

Even the most careful businesses run the risk of injuring someone or damaging something during their operations. Chances are, like many other small businesses in Perth, if you were faced with a public liability claim, the financial impact of paying the claim and associated legal fees (including defence costs) could potentially send you out of business. That’s why you should consider Public Liability insurance to provide the financial protection your business deserves.

What does Public Liability insurance cover? 

Public Liability insurance covers claims for personal injury suffered by a third party (such as a customer, supplier or member of the public) due to your negligent business activities. It also covers claims for damage to property owned by a third party as result of your negligent business activities. It’s clear that the legal costs of a public liability claim could pose a financial burden to a small business. Public liability Insurance gives you peace of mind by picking up the reasonable legal and defence costs associated with a covered claim.

The following activities are typically not covered by a Public Liability insurance policy:

  • Injuries to your employees
  • Damage to your own property
  • Costs of rectifying faulty workmanship
  • Professional negligence
  • Contractual liability
  • Motor vehicle claims
  • Events occurring before or after the policy period

How much does Public Liability insurance cost for Perth businesses?

On average, small businesses in Perth pay $33.80**per month for a Public Liability insurance policy. Public Liability insurance is one of the most popular types of insurance for businesses. In fact, it is likely to be very important for almost every kind of business, from those that operate in the trades and service industries, to businesses that are predominantly office-based, such as consultancy occupations.

Given the various industries and occupations Public Liability insurance can cover, the cost of it can vary greatly. This is due to several factors including:

  • The type and nature of your business
  • Your business turnover and size
  • The amount of insurance cover your business needs

 

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

**We know, sometimes you just want a quick idea of how much your insurance is actually going to cost.  However, it’s important to note that the data included within this article was sourced from BizCover customer data during 2018/2019 and is intended as a guide only.  It may not reflect pricing for your particular business as individual underwriting criteria will apply.  Get a hassle-free quote for your business  here. 

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1 This data is for 2018 and sourced from the ABS. https://itt.abs.gov.au/itt/r.jsp?RegionSummary&region=111&dataset=ABS_REGIONAL_ASGS2016&geoconcept=ASGS_2016  

 

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