Why? Well, it may help you to understand if your particular business may need PL insurance. Perhaps, it may need more than just PL insurance. However, it can be tricky to determine because every business is unique. Not to worry. In this blog, we will set out a few claim examples that establish what may be covered under Public Liability Insurance.
The following examples are likely to suggest a PL insurance claim:
For example, an employee falls off a ladder in your warehouse breaking their shoulder. You, as employer, would be required to take out a workers compensation policy. Why?
In order to cover the medical costs. Similarly, Professional Indemnity insurance may not cover you if you ever provide professional advice that later may cause damage or loss. An example being an architect. They may offer structural advice that’s misleading to a builder resulting in damage to a building later on.
In short, the solution to these two examples would be to obtain workers compensation insurance and professional indemnity insurance. More can be found by reading our blog things public liability doesn’t cover .
Overall, many claims may fall under Public Liability. However, there are many factors to think about. The list can be long. Ultimately, it depends on your business. Some businesses might want to invest more on professional indemnity policy. Or workers compensation on top of a Public Liability policy. Above all, seek professional insurance advice.
FD Beck has a free online insurance quoting tool tailored for contractors, consultants or freelance professionals. In fact, our online calculator has almost 150 professional occupations to choose from. FD Beck’s online PL insurance calculator offers limits options of $5,000,000, $10,000,000, and $20,000,000. Better still, our online calculator includes other products such as PI and Cyber Insurance. That’s just to name a few.
For over 100 years, FD Beck has protected Australians. Rest assured, we have the knowledge and expertise to handle every aspect of your insurance needs.
For the past 27 years Simon has enjoyed a career in the Insurance industry as both a broker and underwriter. Prior to being a director at FD Beck Simon had a successful 8‐year management career with one of the worlds largest general insurers, which saw him deal with and structure insurance programs for some of Australia’s largest insurance purchasers.
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