The Public Liability Insurance NZ Businesses Need
Covering professionals who typically face customers regularly, public liability insurance acts as a policy that protects these businesses against a variety of risks. These include civil damages, criminal penalties and any other costs incurred in an accident or injury to persons or property.
At Runacres, we understand that finding a trusted public liability insurance provider can be overwhelming. From start to finish, we streamline the process for you, so you can keep your business secure, risk-free and out of the danger zone.
When assessing the right policy for you, it’s important to understand that liabilities insurance doesn’t cover claims from an individual, focusing only on claims made against a business entity (e.g. company). Additionally, policies differ from one company to the next, with various levels of protection on offer. When you speak to Runacres, we’ll help you discover which liabilities insurance options is most suitable for your needs and guide you through everything involved.
Runacres Covers Your Public Liability Needs
Businesses may wish to consider public liability insurance as part of their general policies for comprehensive protection. If this is the case for you, we’re here to show you how to go about it and what areas of your business may need protection the most. Runacres helps professionals like you get the right form of coverage, protecting your business, properties and assets from start to finish.
How To Know If You Need Liabilities Insurance
It’s important to back yourself with a policy for public liability insurance in NZ that suits your circumstances. If you’re not sure whether you need this form of protection, ask yourself these key questions as a starting point:
- Does your business offer a particular service or trade?
- Do you regularly interact with members of the public – whether as a sole trader or a company?
If you answered yes to any of these questions, you need to seriously consider carrying liabilities insurance to keep out of legal trouble. That’s where we come in. From tradesmen to self-employed entrepreneurs, shop owners to professionals, we’ve supported hundreds of small businesses protect themselves against legal claims. While public liability insurance in NZ isn’t a legal requirement, choosing to invest in this solution keeps your business out of harm’s way when you least expect it. Mistakes happen and when you’re not well-protected, you can easily end up in hot water, inflicting seriously costly penalties.
Additionally, you may find that prospective clients may ask that you have this type of policy before they partner with you. For this reason, it’s always beneficial to have this protection by your side.
Finally, remember that public liability insurance doesn’t cover employees and only covers you against any claims made by a third party. If you require protection for your staff, you’ll need to choose a different solution altogether – which is something we can point you in the direction of. If an unfortunate accident or event occurs, your business can be sued for compensation. Luckily, Runacres can help you avoid these circumstances, integrating our comprehensive policies into your operations. Contact us for a free no-obligation discussion to get started.
Why Choose Runacres?
We are a member of the Insurance Council of NZ and adhere to the Fair Insurance Code, which provides you with assurance that we have high standards of service to our customers.
- 3 industry awards in the last 4 years
- 35+ years’ experience in NZ
- We represent $655+ million in collective insurance premiums each year
Frequently Asked Questions
While public liability insurance is not legally mandated in New Zealand, it is a highly recommended safeguard for businesses that interact with the public. This insurance protects you from potential financial burdens resulting from third-party injury or property damage that may occur during your business operations. Having public liability insurance provides peace of mind and demonstrates your commitment to responsible business practices.
In New Zealand, general liability insurance and public liability insurance are often used interchangeably as they share similarities in coverage. However, it’s essential to understand that general liability insurance typically encompasses a broader range of liabilities. Public liability insurance specifically focuses on protecting your business from claims made by third parties due to injury or property damage that occurs on your business premises or as a result of your business activities.
Public liability insurance in NZ covers a variety of scenarios, including bodily injury or property damage suffered by a third party due to your business activities. It encompasses legal fees, medical expenses and compensation claims, providing vital financial protection against potential lawsuits. Whether a customer slips and falls in your store or your business activities cause property damage, public liability insurance steps in to alleviate the financial burden.
Public liability insurance is a crucial aspect of risk management for any business that interacts with customers, suppliers or the general public. Accidents and unforeseen events can happen at any time and without adequate insurance, your business could face substantial financial losses and reputational damage. Public liability insurance offers a safety net, ensuring you can continue operating confidently even in the face of unexpected liabilities.
Don’t leave your business vulnerable to legal and financial pitfalls. Invest in comprehensive public liability insurance in NZ to safeguard your business, reputation and bottom line. Remember, being proactive today can protect your business’ future tomorrow.
The amount of public liability insurance coverage you need depends on the nature of your business, the potential risks involved and the scale of your operations. It’s essential to consider the types of activities your business engages in and the potential severity of accidents or damages that may occur. Consulting with our experienced insurance advisors can help you determine the appropriate coverage amount tailored to your specific needs.
Absolutely. Public liability insurance is designed to protect your business from legal claims and lawsuits initiated by third parties. Whether it’s covering legal defence costs or compensating for damages awarded to the claimant, your insurance policy offers valuable financial support to handle legal disputes effectively.
Public liability insurance is equally important for small businesses as it is for larger enterprises. In fact, smaller businesses may have fewer financial resources to handle unexpected liabilities, making insurance even more critical. Regardless of your business size, public liability insurance provides a safety net that ensures you can continue to thrive without being financially burdened by costly legal claims.
Yes, public liability insurance can be tailored to meet the unique needs of your industry. Whether you run a restaurant, construction company or retail store, our team of experts can customise your insurance policy to address the specific risks associated with your business. This way, you get comprehensive coverage that aligns perfectly with your industry’s requirements.