Almost all Sydney businesses can benefit from the protection that public liability provides. It covers a range of risks and can reduce the financial impact of such risks on businesses and their owners.
There are many different insurance types which businesses and self-employed people can benefit from, and public liability is certainly one of the most common.
Public Liability Explained
Public liability is a special form of business insurance which covers the financial costs that arise from certain events which you are legally liable for.
If your business causes property damage or personal injury to another person such as client or member of the public, ordinarily you would be liable for their financial loss or damage.
With the right public liability insurance policy in place, your insurance company will cover the costs instead of having to meet those costs out of your own profits.
Not all events are covered by public liability insurance and there are some important exclusions, however many of the risks that Sydney businesses face each day will be covered.
Public Liability Cost in Sydney
The cost of public liability insurance in Sydney will vary for each business based on a range of factors.
The biggest factors in the cost of public liability include the type of work which is undertaken by the business, and the size of the business in terms of revenue and staffing numbers.
Other factors influencing the cost include the areas you work in, especially for higher risk areas such as airports, railway stations and anything to do with mining.
Generally a business will pay no more or less for their insurance just because they are based in Sydney, however some insurers do vary their premiums based on the geographical location of the business.
Quotes for Public Liability
There are dozens of insurance brokers located in Sydney who can assist you with a public liability insurance quote, however it also possible to use brokers from elsewhere in NSW and even interstate.
If you do choose to use an interstate insurance broker, it is important to ensure they are familiar with any special requirements for NSW businesses.
When comparing quotes on public liability insurance it is always important to compare the features and benefits of each, as not all policies are the same.
For more information on this important form of cover please speak with your local Sydney insurance broker.