Public Liability insurance is an necessary consideration for businesses of all types weather you a restaurant owner, medical malpractice or a shop owner. The cost of public liability insurance can vary based on various factors. On an average, small business owners can expect to pay approximately $69 per month for Public Liability coverage.
Cost of Public Liability Insurance influenced by various factors:
The pricing of Public Liability insurance is influenced by various factors, including the nature of your business, the size and turnover of your business, and the level of coverage you require. Additionally, other factors such as the location of your business, policy inclusions and exclusions, and the insurance provider you choose can also impact the cost.
Here’s a breakdown of the average monthly premiums for Public Liability insurance:
Around 22.5% of small businesses pay less than $50 per month.
Approximately 67.6% of small businesses pay between $51 and $100 per month.
The cost of Public Liability insurance can also vary by industry. The nature of your business operations and the level of risk involved play a significant role in determining the premium. Industries with higher exposure to potential risks, such as cafes and restaurants, may have higher premiums due to the frequent foot traffic and potential for accidents, like slips, trips, falls, and burns.
Comparatively, office-based businesses, such as real estate agencies or architectural firms, may have lower premiums due to the perceived lower risk associated with their operations.
Remember, these figures are based on analysis are subject to change. For an accurate and up-to-date estimate for your business, it is advisable to consult with us.
We are, Sureinsure Insurance advisors, understands that businesses whether large or small at some significant point in their life will contemplate the costs and expenses that might be incurred on a particular business. If you are looking for a public liability insurance and you want to know cost of public liability insurance for your business, then you can Contact us.
You Can Also Read :
Why Do Sole Traders Need Public Liability Insurance in Australia