Public Liability Insurance Cost Examples

To give you an example your public liability insurance cost may be higher if your business has a high turnover if you use a lot of equipment or dangerous machinery or if your business premises experiences a high volume of visits from members of the public.

Public liability insurance cost examples. It s legally required if your business employs others. In this guide we will take a look at some of those factors which affect the cost of your insurance. Public liability insurance covers the cost of claims made by the public that happen in connection with your business. 30th july 2018 the average uk annual public liability insurance premium costs 119 37 according to axa however some small businesses and sole traders will pay less than that and it can be as little as 40 a year.

Public liability insurance premiums vary depending on the type needs nature turnover and size of your business as well as the industry in which your business sits typically the larger your business and the higher its risk for causing injury or property damage the higher the cost of public liability insurance. Employers liability cover is to protect you against legal costs if an employee is injured gets ill or their property gets damaged as a result of your business. 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. Even if your company has not been negligent the legal costs incurred in defending your company could cripple a business if not insured against.

It helps to cover the costs for personal injuries loss or damage to property and death. How much you pay will depend on a number of factors. The average cost of public liability insurance. Examples of public liability insurance claims.

Axa says 10 of its customers paid 59 for annual public liability insurance between january and march 2018. Public liability insurance costs a fraction of the price of paying large awards if your company is found negligent. Aside from public liability insurance you can also find other types of cover for your business. We have put together a snapshot of how much public liability insurance can cost for a small business by analysing data from policies sold by bizcover during the 2018 19 financial year.

Here a few examples of the type of claim your public liability cover can help you with. The cost of public liability insurance can vary from a few hundred dollars through to a few hundred thousand. 5 million public liability insurance cost for some self employed tradies such as painters starts from around 480 or 45 per month. A plumber fits a new mains shower system in a customer s home.