Public Liability Insurance NZ

A Quick Guide for New Business in NZ

Are you new to business? Have you been advised to take a public liability insurance NZ? Have you been thinking about “what if” situation in the event you and your business going to be found liable for the third party claim? Would you put your house on the line?

As new business owners, you are fully aware of the many risks involve when it comes to running a business. There are so many things to consider when it comes to risks from capital to manpower, from supplies to demand, from customers and suppliers. However, there is also one aspect that many new entrepreneurs tend to ignore and that is exposure to different financial risks as the result of business operation. Statically every business will be potentially exposed to at least one risk factor on the daily basis and can potentially bankrupt the owner due to the cost of financial liability.

The public liability insurance is compulsory for your financial freedom

You can loose your business if you do not have public liability insurance

One of the reasons why new business owners lack preparation for all sorts of risks and vulnerabilities is that they think that private business is simple and can provide them with financial benefits and freedom. Most of them are not aware of conditions of a public liability insurance NZ. Considering that this is not mandatory requirement when setting up the business. In some cases, new businessmen are confident that they prepared so well that they are not going to be in the situation when something can happen or it would happen to them. They are confident that nothing will go wrong as the business progress. Clearly this is not the case and sometimes “she will be right” attitude can be punishable. This is why many financial experts recommend that all business owners to have a public liability insurance as means of preparation for any eventualities as a result of flaws, mistakes, errors, accidents, slip ups, and other troublesome incidents resulting to bodily injuries and damage to other people properties.

 

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Definition of Public Liability Insurance NZ

In simple terms, it is a type of insurance where it pays compensation to any individual who suffered an injury or damage to a property as a result of failure or unintentional mistake of the owner of the business.

Public liability insurance is designed to provide reasonable cover to the business operation of the business in the way of financial compensation.

The suffered party is going to be put in the no better off situation by the use of the existing policy. It is structured to protect the business to offset whatever financial risks involve by virtue of legal action acted by third party or the public.

As a wise NZ businessman, it is important that you take advantage and put in place a public liability insurance NZ. The policy is going to provide you with cover for very affordable monthly premiums. If your business offers New Zealand public to visit your premises or if you perform activities or work at places of work or private homes of your customers or third parties, you are advised to have public liability insurance.

Why Do You Need Public liability NZ?

If you want a peace of mind that your business is totally protected regardless of any situation, then take a public liability insurance NZ for your business. You will never know when and what will go wrong in the future and how much liability you will be facing as a consequence. Bear in mind that any form of public liability NZ is not expensive and even if you did nothing wrong, you can still incur cost like legal fees just to defend yourself or the business. Take advantage of our on-line quote request for your public liability NZ.

How much is a Public Liability NZ?

Think about $1,000,000 of Public liability insurance NZ can cost you only $500 annually. It is your shield against claims made by third party individuals who suffered injuries or damages to their properties as a result of conducting your business operations or activities with them. It is often recommended to have employers liability insurance on the top of public liability insurance if you have employees or contractors working for your company.

Second addition to your public liability insurance is Statutory liability insurance which is designed to protect you and your business from legal claims – think about OSH and potential fine to you as the employer if you found liable.

Cost of premiums varies depending on the nature of the business and the amount of coverage the business needs to have in place for existing or future contacts. Yes, it is perceived to be unnecessary evil from the cost point of view. However, what you have to take note of what it covers.

Public liability insurance covers your business for legal cost, court representation, medical and hospital bills and expenses if there are bodily injuries involved (think ACC. Here you can find some help how to pay less ACC levies), and other related expenses and damages.

Take note that your employees are covered with your public liability insurance.

What It Covers?

  • Business operation.
  • Directors, partners, employees, shareholders of the company.
When your public liability insurance protects you

On the picture you can see just a little damage to the roof edge. According to the insurance company assessor the cost of the damage is about $5,000 since the owner of the business is insured and it is a liability claim the  owner of the business is not even going to pay for excess. Better be insured.

Testimonials from our existing clients

Vlad is a fantastic person to work with

Vlad is a fantastic person to work with; prompt, generous, trustworthy, understanding and extremely helpful. He was able to understand the unique issue I had with organizing Public Liability Insurance. Promptly stepped in to help, and went above and beyond what I hoped for, before I even had to ask. In a jungle of elements and paperwork to organize for even simple projects these days, Vlad generously stepped in to take the insurance task off my shoulders. A pleasure to work with. Highly recommend!

Eric Farmer
Public Liability Insurance services
5.0
2016-04-19T13:26:05+12:00
Vlad is a fantastic person to work with; prompt, generous, trustworthy, understanding and extremely helpful. Vlad generously stepped in to take the insurance task off my shoulders. A pleasure to work with. Highly recommend!

One of the best brokers I have ever dealt with

Outstanding Customer Service, one of the best brokers I have ever dealt with. Friendly, helpful, highly recommend.

Public Liability Insurance services
5.0
2016-05-17T14:05:25+12:00
One of the best brokers I have ever dealt with

Don’t go elsewhere until you give Vlad a try

Great customer service. Don't go elsewhere until you give Vlad a try. Thanks Vlad for your super fast service.

Darryn Hadland
Public Liability Insurance services
5.0
2016-04-19T12:11:31+12:00
Great customer service. Don't go elsewhere until you give Vlad a try.

Excellent services and stayed on top of everything

Excellent services and stayed on top of everything at all times. Thank you very much.
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Public Liability Insurance services
5.0
2016-05-03T10:25:28+12:00
Excellent services and stayed on top of everything at all times. Thank you very much. View and reply

Vlad was extremely helpful and informative

Vlad was extremely helpful and informative about everything that concerned our insurance. Very straightforward and easy to deal with, he provided us all the information we required quickly and accurately and that was key in making a decision to go ahead with the insurance. Would definitely recommend his work to anyone!!

Teresa Ferreira Morais
Public Liability Insurance services
5.0
2016-04-19T11:58:58+12:00
Vlad was extremely helpful and informative about everything that concerned our insurance. Very straightforward and easy to deal with, he provided us all the information we required quickly and accurately

Vlad has been fantastic in resolving my insurance requirements

Vlad has been fantastic in resolving my insurance requirements with a prompt, informative and friendly service

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Public Liability Insurance services
5.0
2016-04-19T15:15:42+12:00
Vlad has been fantastic in resolving my insurance requirements with a prompt, informative and friendly service
5.0
6

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