Smart Business Insurance
Level 11, 484 St Kilda Road Melbourne, VIC3004
$ Phone: 1300 542 573

1300 542 573

TALK to a SMART Business Insurance adviser

Product Liability Insurance in Australia

Looking for affordable product liability insurance in Australia? Our friendly team of commercial insurance brokers may be able to help you find affordable product liability insurance quotes on suitable cover for your unique business activities.

If you are a sole trader, self-employed contractor , or small business owner in Australia looking for product liability insurance cover, you may have come to the SMART place.

Product Liability Insurance Differs from Public Liability Insurance

Product liability insurance and public liability insurance both protect your business against allegations of negligence, but for slightly different types of claims. Some business owners purchase only a public liability policy.

From a practical perspective, business experts strongly recommend all small businesses to have both public and products liability insurance as their core covers.

For many small business occupations in Australia, insurance companies can combine product liability insurance with public liability insurance.

Whether combined or on standalone policies, the team of SMART business insurance brokers may be able assist by helping you find suitable product liability policies.

Product Liability Insurance Explained Simply

Product liability insurance may protect sole traders, contractors, and small businesses from claims of certain types of negligence in relation their products. For example, claims could arise if their product injured someone or damaged their property.

Here are examples of some of the business activities that can lead to product liability claims.

  • Supplying food or drinks can cause illnesses such as food poisoning.
  • Supplying clothing, appliances, equipment, tools, or furniture can cause an injury or damage property.
  • Supplying mobile phone or computer hardware accessories that do not perform their function as could be reasonably expected, resulting in damage to the mobile phone or computer.

Whether your products are used properly or improperly, claims can arise. Almost any type of equipment or product you supply can lead to an injury or property damage.

What is Public Liability Insurance?

Public liability insurance may protect you against allegations that you were negligent. Public liability insurance may cover the cost to investigate and, if necessary, defend your business. It also may cover the cost to settle the claim with the other party. Public liability allegations typically involve property damage, injuries or a death allegedly caused by your negligence in operating your business.

Consider these examples where public liability insurance can help protect you.

  • A visitor tripping down your stairs or even slipping on a wet surface can trigger a significant claim.
  • If you or your employees visit a client and accidentally damage that client's property, you may be liable.
  • When accidents happen, on or off site, and the other party points the finger at you and your employees, public liability insurance may protect you.

The cost of product liability insurance for your business depends on several key factors.

  • The type of your business and the scope of activities performed by you and your employees
  • The size of your annual business income turnover
  • The amount of insurance needed to protect your business risks

How Much Does Public and Product Liability Insurance Cost?

The cost of combined public and product liability insurance will depend on a variety of factors related to your business activities. If you want to learn exactly how much public and products liability insurance costs to suitably cover your business activities, talk to a SMART Business Insurance broker on 1300 542 573 or enquire online.

Below are some cost indicators for public and product liability insurance for various self-employed occupations.

  • $5 million public and products liability insurance for self-employed sole traders, consultants and contractors begins from $380 annually or $35 per month for office-based occupations.
  • $5 million public and products liability insurance for some self-employed traders, such as painters, begins from around $480 annually or $45 per month.

Please note: While cheap public and product liability insurance may seem attractive on its surface, it is important to ensure the policy covers you for the business activities you undertake. When you have a claim, you want to be sure the insurance policy and company will respond quickly and efficiently.

What are the Benefits of Public and Product Liability Insurance?

Product liability insurance, when combined with public liability insurance, may protect your business for your legal costs, the costs of investigating the action and compensation to a third party. Negligence allegations usually result from a death, injuries, or property damage caused by negligence, in relation to your goods or services. Claims for accidental injury or property damage can be very expensive to investigate, defend and settle.

When obtaining a public liability insurance quote, we recommend you combine both product liability insurance and public liability insurance. Combining cover can save you money and administrative time by avoiding multiple renewal dates.

Compare Public and Product Liability Insurance Cover and Quotes

Our friendly team can help you compare public and product liability insurance quotes and cover. Every working day we compare costs and policies from leading insurance companies such as Vero , Zurich , CGU and AIG.

Call us on 1300 542 573 or enquire online. We are here to help you find suitable public and product liability cover for your business activities at an affordable cost.

Important: Cover may be available subject only to meeting the insurer’s underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a SMART business insurance broker on 1300 542 573 for more information.

1300 542 573

TALK to a SMART Business Insurance adviser

Business Hours:

Monday – Friday 8.45 am - 6.00 pm AEST