Are there any exclusions or limitations to Public Liability insurance?

Common exclusions or limitations may include claims arising from deliberate acts, criminal activities, contractual liabilities not covered by the policy, and certain high-risk activities or locations.  It's essential to review your policy documents carefully to understand what is and isn't covered.

Our team at Westralian Insurance would love the opportunity to chat to you about your business insurance, and answer any questions you may have.  Our knowledgeable and fully qualified team know the questions to ask, to ensure your business is fully protected, as well as answer any questions or queries you may have.

Give Westralian Insurance a call today, on (08) 9302 1388, or visit www.westralianinsurance.com.au

How can I lower the cost of Public Liability insurance?

You can lower the cost of Public Liability insurance by implementing risk management practices to reduce the likelihood of incidents, choosing a higher deductible (excess), and comparing quotes from multiple insurers to find the most competitive rates.

Westralian Insurance can help!  Give the team a call today and have an obligation free chat with our fully qualified insurance brokers.  They will take the time to understand your business, and strive to find the best insurance solution to meet your requirements, no matter what type, size or age of your business.

Give the team a call today, on (08) 9302 1388, or visit www.westralianinsurance.com.au

What is the difference between Public Liability insurance and Professional Indemnity insurance?

Public Liability insurance covers claims for injury or property damage caused to third parties as a result of your business activities, whereas Professional Indemnity insurance covers claims arising from professional advice or services you provide that result in financial loss to a client or other third party.  

If you own a small to medium business, it's worth speaking with an insurance broker regarding your business requirements.  Westralian Insurance is here to help, so give the local team a call today.  Call (08) 9302 1388 or visit www.westralianinsurance.com.au

How much public liability insurance do I need?

The amount of coverage you need depends on factors such as the size and nature of your business, the level of risk associated with your activities, and any contractual requirements from clients or regulatory bodies.  It's essential to assess your specific risks and consult with an insurance advisor to determine adequate coverage limits. Typical limits of cover are $5 million, $10 million and $20 million.

For professional advice from a fully qualified insurance broker, call the team at Westralian Insurance today, on (08) 9302 1388, or visit www.westralianinsurance.com.au

  

What does Public Liability insurance cover?

Public liability insurance typically covers legal costs, compensation payments, and other expenses associated with claims for bodily injury or property damage caused to third parties due to your business activities. It may also cover product liability claims related to goods you supply and/or manufacture.

Public Liability insurance should be an important consideration for many businesses.

Give the team at Westralian Insurance a call today to discuss your business insurance requirements and ensure your most precious assets are protected.

Call (08) 9302 1388, or visit www.westralianinsurance.com.au

Is Public Liability insurance mandatory in Australia?

While Public Liability insurance is not legally required for all businesses in Australia, it is highly recommended, especially for those that interact with the public or have physical premises.  Some industries or clients may require proof of Public Liability insurance before doing business with you.

If you own a small business, it's worth speaking with a qualified insurance broker about your business insurance requirements, including whether you should have Public Liability policy.  Give the friendly professionals at Westralian Insurance a call today on (08) 9302 1388, or visit www.westralininsurance.com.au

What is Public Liability insurance?

Public Liability insurance provides protection for businesses and individuals against claims for injury or property damage caused to third parties (such as customers, suppliers, or the general public) as a result of their business activities.

Public Liability insurance is a must have for many businesses and it's certainly worth speaking with an insurance broker regarding your business, objectives and risks.

Give the friendly, fully qualified team at Westralian Insurance a call today, to discuss your business risks and insurance requirements.  Call (08) 9302 1388 or visit www.westralianinsurance.com.au 

How do I get an insurance quote?

There are a few ways of obtaining insurance quotes.  You can either contact an insurer directly by phone or online, or alternatively you can contact an insurance broker who can obtain quotes from many insurance companies on your behalf.  The most common way of getting insurance these days is online.  Many insurers offer quotations directly to the public via online quoting platforms.  On these platforms you enter your personal details (name, age, address etc) plus information about the type of insurance you require (home, motor, business etc) and you receive a quotation within minutes. You can then make payment via credit card, and you are immediately insured.  

For more complex insurance requirements, it’s always best to contact a qualified insurance broker, such as Westralian Insurance.  Give our local team a call today, on (08) 9302 1388, or visit www.westralianinsurance.com.au

What should I look out for if I need to make a claim?

If you need to make a claim, there are several key things you should keep in mind to ensure a smooth and successful process. Here are some general guidelines:

Review the Terms and Conditions: Carefully go through the terms and conditions of your policy.  Understand the coverage, limitations, and any exclusions.

Document Everything: Keep thorough records of relevant information.  This may include photos, receipts, invoices, and any other documentation that supports your claim.  The more evidence you have, the stronger your case.

Notify the Relevant Parties: Notify the appropriate parties as soon as possible.  This could be your insurance company, the product manufacturer, or the service provider.  Make sure to follow the specified procedure for reporting claims.

Understand the Claim Process: Familiarise yourself with the claim process outlined by the provider. This may involve filling out specific forms, providing documentation, and adhering to certain timelines. Follow the instructions closely.

Keep a Record of Communication: Document all communication with the involved parties. This includes phone calls, emails, and letters.  Note the date, time, and the names of the individuals you spoke with.

Be Honest and Accurate: Provide accurate information and be truthful about the circumstances surrounding your claim. Misrepresentation can lead to claim denial.

Follow Up: If there are delays or if you haven't received updates within the expected timeframe, follow up with the relevant parties.  Staying proactive can help move the process along.

Seek Clarification: If you are unsure about any aspect of the claim process, don't hesitate to seek clarification from the provider.  This can prevent misunderstandings and ensure that you provide the necessary information.

Know Your Rights: Understand your rights as a policyholder, consumer, or claimant. Familiarise yourself with relevant consumer protection laws that may apply in your state.

Consider Professional Help: If your claim is complex or if you encounter difficulties, you may wish to seek legal action, depending on the nature of the claim.

Remember, the specific steps and considerations may vary depending on the type of claim and the terms of your agreement.  Always refer to the documentation provided by the relevant parties for guidance.

If you've got questions, Westralian Insurance can help.  Give us a call today on (08) 9302 1388, or visit www.westralianinsurance.com.au

What is an insurance certificate?

An insurance certificate is a document issued by an insurance company or broker that provides evidence of insurance coverage.  It is a summary of the key details of an insurance policy and is often used to provide proof of insurance to third parties.  Insurance certificates are commonly used in business and commercial transactions where one party wants to verify that another party has appropriate insurance coverage.

Key information typically found on an insurance certificate includes:

Insured's Information: This includes the name and address of the entity or individual covered by the insurance.

Policy Number: A unique identifier assigned to the insurance policy.

Policy Period: The dates during which the insurance coverage is effective, including the start and end dates.

Coverage Limits: The maximum amount the insurance policy will pay out in the event of a covered loss.

Type of Coverage: Details about the specific type of insurance coverage provided, such as general liability, property, auto, or others.

Additional Insured: If applicable, the names of other parties (besides the named insured) who are also covered by the policy.

Description of Operations/Locations/Vehicles Covered: Specific details about what is covered by the insurance, such as the type of business operations or the locations and vehicles insured.

Insurance Company Information: The name and contact details of the insurance company issuing the policy.

Insurance certificates are often requested in business transactions, contracts, or agreements to ensure that the parties involved are adequately insured.  For example, a contractor may be required to provide an insurance certificate to a client before starting a construction project.  It serves as proof that the contractor has insurance coverage in case of accidents or damages related to the project.

If you have questions, Westralian Insurance can help.  Call us today on (08) 9302 1388, or visit www.westralianinsurance.com.au

What is an insurance underwriter?

An insurance underwriter is a professional who assesses and evaluates the risk involved in insuring a person or entity and determines the terms and conditions of the insurance coverage.  The underwriter's primary role is to analyse information provided in insurance applications, assess the level of risk, and decide whether to accept, modify, or decline the application.

Key responsibilities of an insurance underwriter include:

Risk Assessment: Underwriters evaluate various factors such as the applicant's health, age, occupation, lifestyle, and other relevant information to determine the level of risk associated with providing insurance coverage.

Policy Determination: Based on the risk assessment, underwriters decide on the terms of the insurance policy, including the coverage limits, premiums, and any special conditions or exclusions that may apply.

Policy Issuance: Once the terms are established, underwriters issue the insurance policy.  They may also be involved in renewing existing policies and making adjustments to coverage as needed.

Decision Making: Underwriters have the authority to accept, decline, or modify insurance applications.  They make these decisions by balancing the need to provide coverage with the financial risks associated with insuring a particular individual or entity.

Adherence to Guidelines: Underwriters follow established guidelines, policies, and regulations to ensure that their decisions align with the principles of the insurance company and comply with legal requirements.

Communication: Underwriters communicate with insurance brokers, and sometimes directly with applicants to gather additional information, clarify details, or explain decisions.

The goal of an insurance underwriter is to strike a balance between providing coverage to policyholders and managing the financial risk for the insurance company.  Their decisions play a crucial role in maintaining the financial stability and profitability of the insurance company by ensuring that the risks are adequately assessed and priced.

If you own a business and are not currently using the services of an insurance broker, give Westralian Insurance a call today.  We pride ourselves on our relationships with underwriters, always striving to find the best policies for our clients.  Call (08) 9302 1388, or visit www.westralianinsurance.com.au

What is an insurance policy?

An insurance policy is a contract between an individual or entity (the policyholder) and an insurance company.  The purpose of the policy is to provide financial protection and reimbursement in the event of specified losses or events.  In exchange for regular premium payments, the insurance company agrees to cover certain risks outlined in the policy.

Key components of an insurance policy include:
Policyholder: The person or entity that owns the insurance policy.

Insurer/Insurance Company: The company that provides the insurance coverage and promises to pay for covered losses.

Premium: The amount of money the policyholder pays to the insurance company at regular intervals (monthly, quarterly, annually) to maintain the insurance coverage.

Coverage: The specific risks, perils, or events for which the insurance policy provides protection.  This can include various types of insurance, such as business insurance, car insurance, homeowners insurance, and more.

Policy Term: The duration for which the insurance policy is in effect. It could be for a specified period, such as one year, or it might be a term policy that covers a specific period, like 10 or 20 years.

Exclusions: Specific conditions or situations that are not covered by the insurance policy.  It's essential for policyholders to understand these exclusions.

Excess: The amount the policyholder must pay out of pocket before the insurance company starts covering the costs. This is common in property insurance, such as car or homeowners insurance.

Claim: A formal request by the policyholder to the insurance company to receive payment or coverage for a loss that is covered by the policy.

Insurance policies are designed to provide financial security and help individuals and businesses manage the risks associated with various aspects of business, life, health, and property.  The terms and conditions of insurance policies can vary widely based on the type of coverage and the specific policy chosen.

It's always best to speak with an insurance broker for any business insurance requirements.  Call Westralian Insurance and speak with a qualified insurance broker in real time, today!  Call (08) 9302 1388, or visit www.westralianinsurance.com.au

What is an insurance premium?

An insurance premium is the amount of money an individual or business pays for an insurance policy.  It is typically paid on a regular basis, such as monthly or annually, to the insurance company in exchange for coverage and protection against specified risks.  The premium amount is determined based on various factors, including the type and amount of coverage, the insured's risk profile, and other relevant considerations.

Insurance premiums are essential for the insurance industry to function.  They enable insurance companies to pool the risks of many policyholders and provide financial protection in the event of covered losses, such as accidents, illnesses, property damage, or other unforeseen events.  The premium amount can vary widely depending on the type of insurance (e.g., business insurance, car insurance, health insurance) and the specific terms and conditions outlined in the insurance policy.

If you've got insurance questions, Westralian Insurance can help.  Call us today on (08) 9302 1388, or visit www.westralianinsurance.com.au

What is an insurance excess?

An insurance excess, also known as a deductible, is the amount of money that an insured individual must pay out of pocket before their insurance coverage kicks in and starts covering the remaining costs.  In other words, it is the initial portion of any insurance claim that the policyholder is responsible for.

For example, if you have a car insurance policy with a $500 excess and you make a claim for $2,000 in damages, you would need to pay the first $500, and the insurance company would cover the remaining $1,500.  The purpose of an excess is to discourage policyholders from making small or frivolous claims and to share the financial risk between the insured individual and the insurance company.

It's important to note that the specific terms and conditions regarding excess amounts can vary depending on the type of insurance and the insurance policy itself.  Some policies may have a voluntary excess, which the policyholder can choose, in addition to a compulsory excess set by the insurance company.  Understanding your insurance excess is crucial when purchasing or renewing an insurance policy, as it directly affects the cost of coverage and how much you would need to pay in the event of a claim.

For more information, give the team at Westralian Insurance a call today on (08) 9302 1388, or visit www.westralianinsurance.com.au