Lumaktaw sa pangunahing content

Public Liability Insurance – Common Mistakes Businesses Make

Public liability insurance is an essential form of cover and most businesses, no matter the size, have liability insurance in place. So, why is it so important? Well, it protects you financially if you cause damage to property or injury to a third party as a result of your actions at work. Not only will it cover the cost of damages, it also helps cover legal bills if you need to hire a lawyer during the claims progress.

Unfortunately, we see a lot of businesses make some very common mistakes with their liability insurance which can cost them in the long run. Let’s take a look at some of these mistakes so you know to avoid them!

Mistake #1: Opting for low cost over quality

With rising business costs, it’s understandable that you may want to go for the cheapest liability cover you can find. However, the old saying that you get what you pay for often applies in these situations and you could find yourself discovering at claim time that you don’t have adequate cover. Make sure you get the right level of cover for your business – it can save you a lot of money in the long run if you’re at the receiving end of a claim!

Mistake #2: Not getting a number of quotes

Although it can take a little longer, it’s a good idea to shop around and get a number of quotes before you commit to a policy. If the quotes you’re getting seem pretty similar, remember that this doesn’t mean that the policies themselves are identical so take the time to read the fine print to see what the exclusions and inclusions are.

Mistake #3: Forgetting to update the insurer about changes in circumstances

When your circumstances change, it’s essential that you let your insurer know as your cover may also need to be changed. This could include things like changing work locations, hiring new employees or adjusting the type of work you do. If you don’t let your insurer know, you may not be covered for your new circumstances.

Mistake #4: Not taking out liability insurance through a broker

If you want to get the best value for money, it’s best to take out liability insurance through a broker. They’ll do the hard work for you by comparing a number of different policies and finding the best cover for your business. They also step in at claim time and negotiate directly with the insurer on your behalf.

If you’re looking for public liability insurance Australia, GSK Insurance Brokers can help. We’ll get to know your business so we can analyse your needs and adequately cover your unique risks. We have established relationships with some of Australia’s top insurers so we can organise premium cover at a competitive price. For service you can trust, speak to our professional team today.

For public liability insurance Perth, contact GSK Insurance Brokers today on (08) 9478 1933.

The post Public Liability Insurance – Common Mistakes Businesses Make appeared first on GSK Insurance.




Read full article here:Public Liability Insurance – Common Mistakes Businesses Make
via https://www.gskinsurance.com.au/

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Professional Indemnity Insurance for Real Estate Agents: Why Do You Need It?

Being a real estate agent means you have an exciting and dynamic job – you can be your own boss, earn a great income and have a flexible work schedule. However, there are certain unique risks that you face which can leave you vulnerable. To give you peace of mind, you should ensure that you have professional indemnity insurance in place to protect yourself financially against claims from third parties. What is professional indemnity insurance? Professional indemnity insurance is designed to protect you if a third party suffers a loss as a result of your professional actions. This could be due to an act, error, omission or breach of professional duty. For most professionals providing a service, including real estate agents, you should have indemnity insurance in place to protect against the financial impact of claims. Not only can indemnity insurance cover part of the costs relating to successful claims, it also provides the means to pay for legal bills involved with the claims proce...
Mag-post ng isang Komento
Magbasa nang higit pa

Who Needs Professional Indemnity Insurance? – Not Me, Right?

Professional indemnity insurance is one of those things that a lot of professionals assume doesn’t apply to them. After all, you’re not a doctor or a lawyer – why would you need it? The truth is that many professionals should have indemnity cover in place to protect them if something goes wrong. Today, we’ll be looking a little closer at professional indemnity insurance and who needs this cover in place. What is professional indemnity insurance? If you provide professional services or advice as part of your job, chances are that you’re going to need professional indemnity insurance. Indemnity cover will protect against the cost of damages or legal bills following a legal claim from a third party if they suffer damage or loss as a result your professional actions. This loss or damage could be the result of an act, error, omission or breach of professional duty. Without indemnity insurance in place, you wouldn’t have any financial protection if a third party decides to take legal acti...
Mag-post ng isang Komento
Magbasa nang higit pa

Adding Up the Cost – What Factors Affect Your Landlord Insurance Premiums

There’s no question that you need landlords insurance if you have a rental property – you face a unique set of risks when you have a tenanted property and insurance provides you with financial peace of mind. But how much will your insurance policy cost? There are a number of factors which can impact on your landlord insurance premiums – let’s take a closer look so you know what to expect. Factors the impact cost When it comes to your premiums for your landlords insurance , your insurer will take into account a number of factors, including: Crime rate – Your insurer will consider the crime rate in the area where your rental property is located so you need to consider this when purchasing a property for rental. In areas at high risk of burglary and related crime, your premiums may be higher. Natural disaster risk – If you’re house is located in an area which is susceptible to natural disasters, this may impact on your premiums. For example, if your home is located in an area whic...
Mag-post ng isang Komento
Magbasa nang higit pa