Builders, like any other industry, are at risk of facing unknown risks when working with clients. Public liability insurance for builders is designed to protect you and your company from these unknown risks. In this guide, we will discuss what public liability insurance covers and why it’s important for every builder.

What is public liability Insurance & what does it cover?

Public liability insurance is a type of policy that covers the cost of 3rd party damage or injury caused by your business.

Public liability insurance covers damage to property and people, whether it’s caused by something in your work or by an employee at any location. This means that if someone slips and falls on loose tiles in your hallway, then sues you for their injuries, this type of policy could cover the costs associated with their claim—but only if it’s applicable to builders who carry such policies (and not all do).

If you are a builder, it’s important to consider this type of insurance. If you don’t have public liability insurance and something goes wrong on site, then either your business or its assets (such as tools and materials) could be at risk. This can include any accidents that happen while building work is being carried out by sub-contractors who aren’t insured themselves.

Construction worker on building site

What else can public liability insurance cover?

Public liability insurance can also cover the cost of:

  • legal fees
  • medical expenses
  • damage to property and goods
  • loss of earnings
  • accidental injury

What you need to look out for when choosing coverage

Take the time to read your policy through and understand the coverage you are getting. It is important that you consider a few things when choosing your builders insurance:

  • What is the maximum limit that can be claimed?
  • What does indemnity cover mean?
  • How much excess will I have to pay if something occurs?
  • Are there any exclusions that apply to my policy, or does it cover everything (like theft or damage caused by pets)?

If you need help finding a good policy or want more information about what builders insurance could cost, please contact Tradies365 today on 1300 226 268.

Guide To Public Liability Insurance For Builders What Does It Cover

Other insurances builders need to consider to fully protect themselves

The types of insurance you need for your business will depend on the type of work you do, the level of risk involved and whether or not you have employees.

Here are some other insurances you may need to consider:

Learn more about builders’ insurance here:

Public liability for builders

After reading this article, you should have a solid understanding of what public liability insurance is and how it works. There are many different types of builders out there, from small contractors to large corporations. The type of coverage you need will depend on your business model and the amount of work that you do.

Looking for public liability insurance? Contact us today.