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Many businesses in Queensland will need to have public liability insurance, and the cost of the cover can vary greatly depending on a number of factors.

Here in Qld there are a number of insurers offering public liability cover.  Each insurer will be happy to provide you with separate quotes on your cover, or you can use an insurance broker who will be able to obtain multiple quotes.

How much your public liability insurance costs will depend on a number of factors, and in this article we will look at some of the main factors affecting the price, along with the easiest ways to get a quote.

Size of the Business

The size of your business will have a major impact on the size of your public liability insurance cost.

Some insurance companies measure size by the annual revenue of the business, whilst other insurers measure size by the number of employees.  Some insurers use a combination of the two.

For most Qld business types, the larger the business is the larger the insurance cost will be.  This is generally due to the fact that a larger business will be undertaking more work, which means there is potential for more claims.

Activities of the Business

Different business types are treated differently when insurers are working out how much your public liability cost will be.

The cost for a retail business in Qld will be different to that of a single tradesman, which in turn will be completely different to the cost for a small office space.

Generally the activities of the business will affect the premium based on the level of risk posed.  A lower risk business will commonly have a much lower premium that a higher risk business.

It is important to tell the insurance company or insurance broker all about your business activities, even if it means your premium will increase.  If you don’t tell them everything, you could find that a claim is declined due to nondisclosure.

Other Factors

Other factors affecting the cost of public liability insurance in Qld include the level of cover you require, as well as the specific options that you wish to include in your policy.

A qualified insurance broker will be able to assess your business and insurance needs, and will be able to tell you how your business activities or other factors may impact upon how much your public liability cover will cost.

Getting a Quote in Qld

There are two main options when it comes to obtaining a public liability insurance quote here in Queensland.

Option one is to contact the insurance companies directly.  Not all of the insurance companies offer direct quotes, but enough do that you will be able to get a good idea of the different prices for your type of business.

The second option is to use an insurance broker.  An insurance broker will be able to obtain multiple quotes from all of the main insurance companies offering cover in Qld, and will then be able to advise you on which option they believe is best for you.

For more information please speak with your broker.  Alternatively you can get in touch with us and we will try to point you in the right direction.