Find out if you need public liability insurance as a sole trader in Australia. Learn what it covers, how much it costs, and when it's required.
As a sole trader in Australia, you are personally liable for everything that happens in your business. Public liability insurance is one of the most important types of cover you can have to protect yourself financially.
Public liability insurance covers you if a third party (such as a customer, client, or member of the public) is injured or their property is damaged as a result of your business activities. It can cover legal costs, compensation payments, and medical expenses.
While public liability insurance is not legally mandatory for all sole traders in Australia, it is strongly recommended. Some industries and clients require it before you can work with them. Tradespeople, personal trainers, cleaners, consultants, and anyone who visits client premises or has clients visit their workspace should seriously consider this cover.
The cost varies depending on your industry, level of cover, and business size. Many sole traders can get basic cover starting from around $30 to $50 per month. High-risk industries may pay more.
ANNA Money helps sole traders manage their business finances, from registration and invoicing to expense tracking. While ANNA does not sell insurance directly, having your finances well-organised makes it easier to budget for essential business costs like public liability cover. Sign up for ANNA today.
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