The cost of public liability insurance can vary quite extensively, starting at a few hundred dollars per annum to a few hundred thousand. How much public liability insurance will cost for your business will depend on a number of factors. The best way to ascertain what you will be required to pay is to compare quotes from various insurance companies.
We offer the most accurate, easy to use, efficient and quick way to compare PLI quoted from a range of different insurance companies within a matter of minutes.
What Does Public Liability Insurance Cost?
The cost of your annual Public Liability Insurance premium will be calculated after taking certain factors into consideration. These considerations generally include the size of your business, the risk you represent to the insurer, and the level of public liability that you require.
Some of the factors that may affect the cost of your Public Liability Insurance are:
- The type of business that you are in: The type of business that you are in will have the largest impact on your Public Liability Insurance cost. Insurance companies keep a substantial amount of information, research and updated statistics and claims history on most occupations and
business types. This information informs them as to the different risks various businesses pose. A consultant working from home, for instance, will be a far lower risk than a trades person who works on site most of the time, therefore the Public Liability Insurance Cost will be lower for the consultant.
- The size of the business: The size of the business also impacts on the cost of PLI, as a company with a bigger staff complement and higher turnover will generally stand a higher chance of a claim being instituted against it. Some insurers measure the size of a business by the annual turnover, some by the staff complement, and others by a combination of the two.
- The risk that the business presents to the insurer: A small accounting consultancy for instance will have a far less risk of being sued by a client than a business that manufactures fireworks and sells them direct to clients from a factory shop on the premises. Businesses that do a lot of work in high risk locations such as mine sites, airports, and railway stations will pay more for their PLI.
Use our easy quote system in order to find out just how much your Public Liability Insurance will cost you.