What is public and products liability insurance?
Public and Products liability insurance protects your business for the legal costs, the costs of defending the action and cost of compensation to a third party, resulting from death, injuries or property damage caused by negligence, in relation to your goods or services.
Do you need Product liability insurance?
Product liability insurance may protect sole traders, contractors and small businesses when products they have supplied or manufactured cause harm, injure someone or cause property damage.
Product liability insurance can be included with public liability insurance and may protects a business financially due to claims or product defects.
If you supply products it is recommended you obtain product liability insurance.
Examples of product liability claims include the following business activities :
- Supply food or drinks- Sickness or illness caused by your food or drinks
- Supply clothing, appliance, tool, furniture or any type of equipment- Harm, injury caused by your "product"
- Supply of mobile application or software- damage caused by your "product"
At SMART Business Insurance we can access multiple quotes from leading insurance companies for suitable Public & Products Liability insurance for your business activities.
SMART Business Insurance offers flexible payments so you can pay for your premiums monthly.
Do you need public liability insurance?
At SMART Business Insurance, our philosophy is that 'there are enough risks in business without taking a RISK on your insurance.'
A visitor tripping down your stairs or even slipping on a wet surface can trigger significant claims.
Consider this: If you, or one of your employees is visiting a client and accidentally damages a client's property, you will be liable.
When accidents happen, on or off site, and the other party can point the finger at your business, public liability insurance can protect you.
Public liability is a core insurance for all small businesses and is strongly recommended.
How much will public and product liability insurance cost?
If your business is considering a combined public and product liability insurance the cost will depend on a variety of factors related to your business.
The cost of public and product liability insurance for your business depends on a number of key factors including:
- The nature and scope of your business
- Your business turnover and size
- Amount of insurance cover your business needs
Public & Products Liability insurance is strongly recommended for businesses, as claims for accidental injury or property damage are potentially very expensive.
Please note: While cheap Public and Product Liability Insurance can seem attractive on the surface it is important to ensure the policy covers you for the business activities you undertake and the insurance policy and company will respond as intended when there is a claim.
Affordable and suitable public and product liability insurance quotes for small business
When it comes to Public and Product liability Insurance in Australia SMART Business Insurance provides sole traders, contractors and business owners with online ease and simplicity combined with friendly service.