Cheapest Public Liability Insurance

No tradesman likes spending their money on insurance, but it does soften the blow if you can find the cheapest public liability insurance available.

We’ve put together a guide to help you compare policies and find the most competitive quotes for your trade business.

If you don’t want to spend time reading and just want some quotes, click the button below and follow the prompts to find cheap public liability insurance for your business!

PS.  Just remember that the cheapest insurance isn’t always the best.  So make sure you’re looking for the cheapest cover that suits your needs, not just the cheapest cover overall.

Comparing Public Liability Quotes

Unlike some other forms of insurance, public liability insurance is generally pretty straight forward, and there aren’t a huge number of differences from one policy to the next.

The benefit of this is that it’s relatively easy to compare tradesman public liability insurance policies, and to find the cheapest deal, without having to worry so much about getting an inferior policy.

Importantly though, whilst there might not be much difference in the overall policy wording, there can be major differences that affect different trades.  For example one public liability policy might cover electricians for work on solar, whilst another won’t cover it as standard.

You won’t find this type of information in the policy wording (also known as the Product Disclosure Statement), and really the only way to know is to ask the insurance company or insurance broker if your specific activities will be covered, especially if they are a little “outside the norm” for your trade.

That’s why using an insurance broker can be such a good idea.  They can help you to find the cheapest public liability insurance policy, but most importantly, they can make sure it’s the cheapest one that still suits your needs.

Sure that might not be the cheapest one overall, but what’s the point of saving a few dollars if the policy isn’t going to meet your specific needs anyway?  You might as well have no insurance!

Finding the Cheapest Public Liability Insurance

You have quite a few options when it comes to finding the cheapest cover online.

Many people buy their public liability online from a big name like AAMI or NRMA.  They have websites that allow you to get quote and buy cover online very easily.

Then you have some comparison websites that will provide quotes from a range of providers.  The only issue here is that they are generally quite limited, and they might only be showing you the options they want to show.

Don’t be fooled into thinking that the cheapest quote on one comparison website is going to be the cheapest quote in the market overall.

Then you have the option of using an insurance broker.  You might think using a broker is a bad idea, and “cutting out the middle man” is a better way to save money, but you would be mistaken!

Using a broker generally costs no more than going direct to an insurer, and sometimes the buying power of a good broker can actually get you a lower price than if you went direct to the insurer.

A good trade insurance broker will also be able to do more of the shopping around for you, and can use their industry experience to quickly track down the cheapest public liability insurance quotes for your business.

Tips for Cheaper Public Liability

Here are our top tips for finding the cheapest public liability insurance:

1. Shop around

This one is pretty obvious.  Like any insurance, the cost of public liability can vary greatly from one provider to the next, even if all of your details are the same.  So shop around and don’t take the first option.

2. Let someone else shop around for you!

What’s better than saving money by shopping around?  Letting someone else shop around and save money for you!  This is how a good insurance broker can help you.

3. Keep your insurance up to date

There are plenty of factors that affect the cost of public liability insurance, and if you don’t keep your policy up to date, you could be paying more than you need to.

For example if you setup your policy at a time when you had four staff and now you only have two, you might find that telling your insurer about the lower staff numbers will result in a reduction in your premium.

Or if you took out your policy when you were working in hazardous locations, and now you’re not, updating your policy could save you a bundle.

4. Pay annually

Cash flow is king, especially in the building industry, which makes monthly payment such an attractive option.

However monthly will often be more expensive than paying annually.  So if you can afford to go annual, it could be another way to save money with a cheaper overall cost.

5. Watch your claims

The whole reason for having insurance is so that you can claim when things go wrong, but too many claims make finding cheap insurance very difficult.

For an insurer to offer cheaper premiums they need to keep claims to a minimum, so if you’re someone who makes a lot of claims, they may look at your history and simply refuse to cover you.  That will leave you with no choice but to go with a more expensive provider.

More Information

To finish up we must again reiterate that the cheapest business insurance is not always the best!  You need to make sure the policy still meets your business needs.  There’s no point saving $50 on your premium if you then have a $5,000 claim declined as the policy was unsuitable.

To help you find the cheapest public liability insurance for tradesman we use our network of brokers throughout Australia to research the insurance companies and find the cheapest policy that is still suitable for your needs.

To get the best price on your tradesman public liability insurance simply click the button below and enter your information for an instant quote.