Why Do Electricians Need Public Liability Insurance? - Contractors Insurance Australia

January 23, 2020

Public liability insurance is an essential form of cover for most contractors, including electricians. It offers financial protection if you cause damage to property or injury to a person as a result of your actions at work. It also covers your legal bills if you need to hire a lawyer as part of the claims process. Today, we’re taking a look at why liability insurance is so important for your electrical business.

Protect your business

Electricians work in a high risk area and you need to have liability cover in place to protect yourself when things go wrong. If you’ve built up your own business over time, a liability claim could be financially crippling without the right insurance cover in place. As part of your business risk management strategy, you need to ensure that you have public liability insurance to protect your business from the unexpected. You also need to be sure that you have the right level of cover in place.

Peace of mind

Public liability insurance offers ongoing peace of mind that you’ll be protected if things go wrong. A successful workers compensation claim could see you liable for many thousands of dollars and even a seemingly small incident can result in an expensive claim. Something as simple as someone tripping on your worksite could see them with a complicated injury which requires ongoing medical intervention, which you’ll be liable to pay for. Not only does public liability insurance provide you with peace of mind, it also provides assurances to potential employees and customers that you have the right level of insurance cover in place.

Contractual obligations

There is no statutory obligation for electricians to have public liability insurance in place. This means that if you don’t have liability cover, you’re not breaking any laws. However, there’s an expectation across the industry that you have public liability insurance and you’ll often find that you’ll be required to have liability cover in place as a condition of your contract. You also won’t be able to enter many worksites without proof of cover.

Licencing requirements

When it comes to public liability insurance for Queensland electricians, it works a bit differently to other states and territories. As part of your licencing requirements, you must have public liability insurance in place which covers you for a minimum of $5 million. In addition, you’re required to have a separate cover for $50,000 of consumer protection insurance. This will be included in your public liability insurance for Queensland electricians.

Contractor Cover simplify the process of taking out insurance. We’ve bundled together the most commonly used forms of cover into one package for the ultimate in convenience for Australian contractors. When you take out insurance with us, you don’t need to worry about juggling multiple policies – everyone is included in one convenient package. Makes sure your risks are covered with the right insurance.

If you want to take out public liability for your business, contact Contractor Cover today on 1300 438 268.

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