Public liability insurance is essential cover for almost all contractors and it should form part of your business insurance package. As with any form of insurance, public liability cover has can include a number of exclusions that you need to familiarise yourself with so there are no surprises when it comes to making a claim. Today, we’re looking at some of the things that public liability insurance doesn’t cover.
What is public liability insurance?
Public liability insurance provides you with financial protection if you cause damage to property or injury to a person as a result of your actions at work. Liability insurance also covers your legal bills if you need to hire a lawyer during the claims process. When you consider that something as simple as a third party tripping on your work site can lead to an expensive claim, it’s easy to see why you need this cover.
If you’re found liable following a liability claim, you could be responsible for medical bills, rehabilitation costs, repairs, replacements and any number of additional costs. Public liability insurance forms part of the licencing requirements for some professionals and many employers require proof of cover before they take you on.
What are common public liability insurance exclusions?
Although there are a number of scenarios that liability insurance covers, there are also exclusions that you need to be aware of and these can differ depending on your policy. Some of the most common exclusions include:
Injury or damage to employees – injury to employees or damage to employee property will not be covered with liability cover
Business property – if damage occurs to property which is owned by the business, this can’t be claimed through liability insurance
Illegal or deliberate behaviour – if your actions or the actions of your employees or deemed to be illegal or deliberate, your liability policy won’t provide cover
Punitive damages – public liability insurance won’t cover additional costs such as tax or punitive damaged
Libel or slander – if your business is accused of libel or slander, your liability insurance won’t offer protection
Asbestos – illness which occurs due to exposure to asbestos is not covered by public liability insurance
Make sure you read the fine print of your policy so you’re familiar with the specific exclusions and inclusions attached to your policy. In some cases, you may need to arrange additional cover.
Insurance cover for Australian contractors
At Contractor Cover, we offer the ultimate in convenience to contractors across Australia with our signature ‘contractor pack’. We’ve bundled together the most recommended forms of insurance cover for contractors, including public liability insurance, into one convenient policy. This means we can provide high quality insurance cover at a competitive price. With us, there’s less hassle and less policies to juggle!
To find out more about public liability insurance, contact Contractor Cover today on 1300 438 268 or fill in our easy online enquiry form.