GIO Public Liability Insurance Review
When you run a business, you accept that there are a number of risks involved. The money and time you invest may be at risk because the business may not succeed. You risk a competitor opening up just down the street and undercutting your prices. Your stock and premises can be at risk because of fire, theft or damage, leaving you nothing to trade with.
However, the thrill, the adventure, the excitement and the dream that is running your own business, is strong enough to overcome the dark thoughts about these business risks and so you let your insurer worry about the finer details if the worst does happen. One risk which you may easily overlook in your business is injury or damage to a person or another business, as the result of your business activities or products.
Public liability claims can be costly to your business financially and if not handled correctly can permanently damage the reputation and future of your operations. While you will always aim to provide the best products and services to your customers, there may still be instances where your quality control breaks down, or someone in your supply chain or team lets your business down.
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Features of GIO Public Liability Insurance
With GIO Public Liability Insurance, you choose the amount of public liability you want to be covered for and your business is then protected in case of claims against you. With GIO Public Liability insurance, you are protected by:
- Public and product liability. GIO will cover you for public liability claims if a third party sues you for personal injury, death or damage to property or advertising injury, as the result of an occurrence related to your business. Where you are legally required to pay compensation, GIO provides you protection Australia-wide.
- Choose your cover amount. Depending on the size of your business and your own budget and financial situation, you can choose public liability cover from $5 million to $20 million with GIO insurance.
- Cover for all expenses and legal costs. Your GIO public liability insurance includes coverage for expenses for rendering first aid to others, the outlay of legal costs and other expenses and cover for third party property in your care, custody or control.
- Easy application and claims. You can apply for public liability insurance and include product liability cover, with GIO in just a few minutes online or over the phone. If you do need to make a claim, the process is just as fast and simple, to ensure you have the insurance money when you need it most.
- Choose your premium frequency. You can pay your public liability insurance premiums with GIO monthly, to fit in with your other insurances and meet your cash flow needs.
Public and Product Liability Inclusions
When you have public liability insurance with GIO, this includes cover for:
- Personal injury
- Damage to property
- Advertising injury
Public liability includes insurance for all sums related to the eligible events, which occur as the result of and in connection with your business.
Product liability for these events pays all insured sums as the result of an occurrence caused by your business’ products. You can also add extensions to your product liability insurance with product recall expense coverage, which includes:
- Cover for any expenses involved in a product recall as the use or consumption of the product may result in bodily injury, death, illness, disability or physical damage to or destruction of tangible property.
- A product may be recalled because of the accidental omission or a substance or the accidental introduction of a harmful substance during manufacture.
- An unintentional error or deficiency in the manufacture, design, blending, mixing, compounding or labelling of the product.
- The ruling from a government or other regulatory body requiring that the product be recalled for any of the above reasons.
Why Consider Public Liability Insurance from GIO
In addition to the quality of cover offered under the Public Liability Insurance policy from GIO, it is worth considering GIO as your insurance provider for a number of reasons.
- Reputable Insurer: Since it was first founded as the Government Insurance Office in 1927, GIO has grown to become one of the largest general insurance providers in Australia. GIO has expanded to offer a whole range of different products including car, home, CTP in NSW and ACT, boat, travel, caravan, commercial, public liability and workers compensation.
- Dedicated customer support: GIO prides itself on being able to offer unmatched customer support through its dedicated and experienced team of insurance experts to ensure any questions you may have during the application, policy period or claims process are answered.
- Range of business insurance solutions. GIO has worked hard to design a range of business insurance products to provide cover for a range of different events. GIO’s range of business insurance products includes;
- Small Business Insurance
- Tradespeople Insurance
- Public Liability Insurance
- Professionals Insurance
- Professional Indemnity
- Commercial Vehicle Insurance