Broadform Liability Insurance

Public Liability Insurance *

Public liability insurance is designed to cover claims for third-party injuries or property damage that occur as a result of your business activities. This may include incidents where a customer, supplier, or member of the public is injured while visiting your premises, or their property is damaged due to your operations.

Key Features:

• Coverage for third-party injuries
• Coverage for damage to third-party property
• Typically required by businesses that interact with the public, such as retailers, cafes, and tradespeople

Broadform Liability Insurance policy and meaning *

Broadform liability insurance extends the protection offered by public liability insurance to include product liability. In addition to covering third-party injury and property damage, it may also cover claims arising from any product you manufacture, sell, or supply that causes injury or damage. This broader coverage is especially useful for businesses that deal with both services and products.

Key Features:

• Includes public liability coverage for third-party injuries and property damage
• Adds product liability coverage, protecting you against claims related to faulty or harmful products
• Suitable for businesses involved in manufacturing, retail, and product distribution.

Broadform Liability Insurance and Public Liability Insurance in Practice in Australia *

In Australia, many public liability policies also include product liability, so in practice are broadform liability policies.

While liability policies are often referred to as public liability insurance, if the cover also offers product liability insurance, the cover effectively is broadform liability.

This means, most Australian businesses may not need separate policies for both public liability insurance, and broadform liability insurance: as long your public liability insurance policy extends cover for product liability.

It’s worth checking your liability policy detail to understand the cover.

Why Should Your Business check that you have Broadform Liability Insurance cover ? *

Broadform liability cover, as the name suggest is a broader form of cover. Both public and products liability may be covered.

If your business deals with the public or provides products and services, you could face potential legal claims. Without suitable coverage, these claims may lead to significant financial strain. A Broadform liability insurance policy may help cover legal fees, compensation costs, and other expenses associated with these claims, giving your business the protection it needs to continue operating smoothly.

Key Benefits of Broadform Liability Insurance:

• Third-Party Injury Protection: May cover claims if a customer or member of the public is injured due to your business operations.
• Property Damage Cover: Provides potential coverage for third-party property damage caused by your business.
• Product Liability: If a product you manufacture or sell causes harm or damage, this insurance may cover the associated costs.

Who Needs Broadform Liability Insurance? *

Many businesses may benefit from broadform liability insurance, especially those that regularly interact with the public or sell products. Common businesses that may need this coverage include:

• Retailers
• Tradespeople such as electricians, plumbers, and builders
• Manufacturers and suppliers
• Cafes, restaurants, and hospitality businesses
• Consultants and service providers

What Does Broadform Liability Insurance Cover? *

Broadform liability insurance may offer protection for a variety of incidents, including:

• Injury Claims: If a customer trips and falls on your premises, or a supplier is injured while delivering goods, this insurance may cover their medical costs and any legal expenses.
• Property Damage Claims: It may cover accidental damage to third-party property, such as a client’s equipment or personal belongings, caused by your business activities.
• Product-Related Claims: If a product you supply causes harm or damage, this insurance may help cover the legal and compensation costs involved.

How Can a Liability Insurance Broker Help You? *

Navigating the complexities of broadform liability insurance can be challenging. A business insurance broker may help you:

• Review your business operations to identify potential risks.
• Compare policies from various insurers to find one that suits your business needs.
• Tailor the coverage to ensure you are adequately protected against a wide range of liabilities.
• Assist with claims to ensure the process runs smoothly.

Get Your Broadform Liability Insurance Today *

Don’t leave your business exposed to liability risks. Speak with one of our experienced insurance brokers to explore your coverage options and find a policy that may protect your business from unforeseen incidents.