Sep 30 2016

City Rural – Market Stall Liability Insurance #insurance #calculator

#aami insurance

Public Products Liability Insurance Cover Available

Total Premium

$210 / year $275 / year $180 / 6 months $225 / 6 months

(Options for 1 or 3 months available on request.)

Products Liability

Market Stall Insurance Explained

What is it and Why you need it.

Though liability insurance is optional in most cases, it is strongly recommended for Australian market stall holders as the likelihood of being sued for negligence is unpredictable and may be very costly. Types of liability insurance you may need to consider include:

Public liability insurance

This covers your liability for damage to property or injury to a third party that occurs in your designated market stall area. It protects you and your business against the financial risk of being found liable to a third party for death or injury, loss or damage of property or economic loss resulting from your negligence.

Product liability insurance

Under the Australian Consumer Law, consumers who suffer loss or damage because of safety defects in a manufacturer s goods when supplied in trade or commerce can:

  • take the manufacturer to court (a court can award compensation to cover the loss or damage), or
  • make a complaint to a consumer protection agency, which may take action on the consumer s behalf.

Therefore you may need cover against claims of goods (products that you sell at your market stall) causing injury, death or damage. Product liability insurance covers you if any of these events happen to third parties by the failure of your product or the product you are selling.

Talk to a City Rural broker today to discuss what cover is best for you.

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