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Most Australian businesses need at least $5M to $10M in public liability cover. Government contracts, construction projects, and leased commercial premises typically require $20M as a minimum. The right amount depends on your contractual requirements, the scale of your business, and the nature of your public interactions.
If a claim exceeds your public liability limit, you are personally or corporately responsible for the excess amount. A serious personal injury claim — involving permanent disability, ongoing medical care, and lost earnings — can exceed $2M to $5M or more. Selecting a limit that is too low to save on premiums can be a false economy. The difference in premium between $5M and $20M cover is often minimal.
In most cases, yes. The marginal cost of increasing from $10M to $20M is typically small relative to the base premium. For low-risk businesses like freelancers or consultants, $5M–$10M is generally sufficient. For any business working in or around the public, at construction sites, or under government contracts, $20M is prudent and often mandatory. Always verify your contractual requirements before selecting a limit.
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