Public liability insurance – Better safe than sorry

| August 8, 2018

As an owner or CEO, it is your job to make the best decisions for your business’ sake. Aside from running the company, making plans, assigning tasks, making sure your employees are well compensated, and your customers are satisfied with your products and services, one should not forget about business insurance.

Everyone knows how vital being insured is and what benefits it entails. However many small-size business owners tend not to prioritise business insurance, thinking the likelihood of an accident happening is very minimal. But, we all know that negligence can lead to a disaster.

If, for example, an accident happens that led to injuries or even death and your company was responsible for the incident, you could lose thousands of dollars, or worse, reach the brink of bankruptcy. That is where public liability insurance comes in.

What is public liability insurance?

Public liability insurance is the kind that protects you in case your business was deemed responsible for any damage to property, injury or even death of a customer or client. If someone makes a claim and is cleared to do so, your insurance company will take care of the compensation, medicals bills to pay if any, disruption of business operation or loss of income.

It is advised to seek a reliable broker to make sure you have excellent insurance for your business. By hiring the best Public Liability Insurance Australia, you can have peace of mind knowing your company is safe and secured.

How Do You Find the Best Public Liability Insurance Broker?

There are some things to consider and to keep in mind to make sure you find a broker you can trust.

Check for qualifications and experience

You don’t want to hire the first broker you find, so make sure to create a list first. Next, do a bit of research and see if they are qualified for the job. Check how long have they been in business and if they are still eligible to operate. How do you do that? The law in Australia requires public liability insurance brokers to provide clients with a guide showing a list of services. All the information should be readily available on a broker’s financial services guide.

Check for reviews and past and current clients

Reviews are critical when it comes to choosing a company. These can be a reflection of their values, how they work with clients and how good their products or service are. Getting your hands on a current and past customers contact details to see what their real experiences are with the company is also a great idea.

Look for brokers who are flexible, great communicators and understands your needs.

You’d want to find a public liability insurance broker who knows what your needs are, creates a personalised approach, communicates well and are flexible when it comes to communication. If you prefer calls over emails and meetings, they should be flexible enough to guide you through the process with your preference, meet your insurance needs and requirements.

No one can anticipate accidents, but it is best to make sure you and your business are well-protected at all costs. You wouldn’t want all of your hard work go down the drain. So, make sure to find an excellent broker to assist you with public liability insurance Australia.