An Engineers Guide To Understanding Public Liability Insurance

There is a whole host of things to think about when you work for yourself as an engineer, and while you might have heard of different types of engineering insurances, our guide is keeps it simple on all things Public Liability insurance* for engineers. 

You might have encountered Public Liability insurance, but when it comes to the nitty gritty, we’ve found some of the key ins and outs, scrapped the lingo and created an effortless guide so you can learn more about this important form of cover. 

So, what exactly is Public Liability insurance? 

Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured (and not covered by the Accident Compensation Commission (ACC)) or sustain property damage as a result of your negligent business activities. 

What does Public Liability insurance typically cover? 

If you are unsure of what exactly your Public Liability insurance policy provides cover for it is wise to check your product disclosure statement or chat to your insurance agent with any questions that you might have regarding your policy. 

These are some of the things that Public Liability insurance typically provides cover for: 

  • Compensation for accidental damage to third party property 
  • Compensation for personal injury or death to third parties where the ACC does not provide cover 
  • Legal and defence costs 

What isn’t typically covered? 

  • Injury to your employees 
  • Damage to your own property 
  • Compensation for personal injury whereby cover is provided by the ACC 
  • Known claims and circumstances 

Why might engineers require Public Liability insurance? 

Every business is exposed to different kinds of risks that which impact their business. Public Liability insurance is something which businesses that interact with clients, third parties and members of the public may need to consider. 

Even when you take care and are vigilant in the safety of your work, accidents and incident can still occur, especially when you least expect them. Public Liability is there to provide a safeguard in place and peace of mind, protecting your business and your back pocket. 

Think about the financial impact a claim for accidentally causing damage to a third-parties property could end up costing your engineering business? Do you have the extra funds to be able to repair or replace the damage your business actions may have caused? 

A simple incident could easily turn into a legal matter involving your business. Consider the amount of time a court hearing can go for, the time it means you will be away from running your business, and not to mention the cost for the associated legal fees and expenses. 

Operating as an engineer, if you have a business premises that clients are coming to visit, Public Liability insurance is something which can provide protection is they were to experience a slip, trip or fall resulting in an injury (not covered by the ACC).  

If you visit work sites and work with contracts, it may also be a legal requirement for you to have your own Public Liability insurance policy in place, even before you pick up your tools. Make sure you also check if there is a minimum level of cover in place that you need to have too. 

How much does Public Liability insurance cost for engineers? 

The most accurate way to find out how much a Public Liability insurance policy is going to cost your business is by getting a personalised quote. A quote can base the policy on the individual factors that make your engineering business uniquely yours.  

Things like the size of your business, its turnover, number of employees, type of work and size of projects are impacting factors that will determine the cost of your engineering insurance policies. 

We understand how active life can get, especially when you are running up your own engineering business. Finding the time to shop around for your business insurance policies can feel impossible as that to-do list seems to never stop growing.  

When it comes to getting your engineering insurance policies for your business sorted get in touch with BizCover today. Leave the shopping around to us!  We provide insurance solutions for things like Professional Indemnity insurance* for engineers to policies for insurance for engineering consultants. 

Visit bizcover.co.nz and get insurance for your engineering business without the stress so you can get on with your day. If you’d prefer to pick up the phone and chat you can find us at 0800 249 268. 

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2023 BizCover Limited. 

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