Public Liability Insurance - Price and Cost

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How Much Does Public Liability Insurance Cost?*

How much public liability insurance will cost for your business depends on a number of key factors, including:

  • The nature and scope of your business
  • Your business turnover and size
  • Amount of insurance cover your business needs

Many business owners are UNSURE if they are COVERED PROPERLY.
We help them find affordable and SUITABLE INSURANCE so they can run their business with CONFIDENCE.*

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Generally the riskier the industry your business operates in, the higher the cost of your premium will be.

For example, trade industries such as electricians and plumbers present a relatively high risk to persons and property and may receive relatively high public liability premiums.

Smaller sized office based businesses such as graphic designers and bookkeepers which typically present fewer risks to persons and property may receive relatively low public liability premiums.

However, as they say, SIZE does matter.

So, for example, a graphic design business with 30 people may most likely receive a larger public liability cost than a sole trader electrician, despite the electrician being in a far riskier industry.

The third key factor that determines the price of public liability insurance is the amount of cover, or sum insured.

Typically public liability cover is available in either $5million, $10million and $20million.

The first two factors:

  • The nature of the business, and the size of business, often determine the amount of cover ($) your business will need.
  • The general rule of thumb is the greater the risks and/or the larger the business, the larger ($) sum insured.

Important considerations when determining what public liability sum to insure:

  1. Government departments, councils, schools, shopping centres, some building owners etc. are now often insisting on a minimum limit of $10,000,000 for Public Liability cover for Contractors and Sub-Contractor.
  2. Some councils and government departments are already insisting on a minimum $20,000,000 limit.

If your business activities include working in the above locations you will need a minimum of $10,000,000 million public liability cover or even $20,000,000.

So, how much will public liability insurance cost you if you are self-employed ?

$5 million Public Liability Insurance cost for self –employed sole traders, consultants and contractors start from $380 annually or $35 per month for office based occupations.

$5 million Public Liability Insurance cost for some self-employed tradies , such as painters starts from around $480* or $45 per month.

Below are some indicative costs on how much public liability insurance is for various self-employed occupations .

There are typically many variables so if you want to find out exactly how much public liability insurance is to suitably cover your business activities it’s smart to talk to a SMART Business Insurance broker on 1300 542 573.

As insurance policies are priced according to risk each different trade is “rated” as a unique occupation by the insurers and will attract its own cost. As such office or professional occupations are typically rated as less risky than trade occupations.

Whether you are a tradie or office based business if you think you are paying too much for public liability a friendly SMART business insurance broker help. Call us on 1300 542 573 or contact us online
and we may be able to help you find affordable and suitable cover.

Please note: While cheap Public Liability Insurance can seem attractive on the surface it is important to ensure the policy covers you for the business activities you undertake and the insurance policy and company will respond as intended when there is a claim.

Want guidance on Public Liability Insurance Cost coverage for your small business?
Get in touch. Here to help you.*

Need more CERTAINTY regarding your business insurance cover?
Have questions or want GUIDANCE?
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Small business owners DESERVE to get insurance cover at an
affordable price – and KNOW what they are covered for.*

We are business insurance brokers

What does this mean to you ?
What that means is that we are YOUR representative, and our first responsibility is to YOU, unlike an insurance agent who represents the insurance company.

And in the event of a claim, we fight for YOU, which may mean a faster and more successful claim.^

^Important : We have no power to authorise claims. However, our experience and assistance can help you when you have a claim.

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REAL LIFE STORIES of small business owners who were UNCERTAIN about their business insurance coverage NOW operating with CONVICTION.*

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