Public Liability Insurance
Public liability insurance protects stallholders from the financial consequences of causing property damage or personal injury to other people at the market.
If someone was to trip and injure themselves at your stall, and you were found to be responsible, you may be liable for their medical costs and even lost income. If their property was damaged you may also be liable for repair or replacement costs.
If a product you sold at your stall resulted in property damage or personal injury you could also be found responsible. Public liability claims for such events can range from a few hundred dollars through to hundreds of thousands of dollars in the event of a serious injury.
Without the right insurance in place, these types of claims can easily send a stall holder into bankruptcy, or at the very least will result in some level of financial hardship.
A public liability insurance policy will not cover every single risk that is present for a market stall holder, but the policy will cover most events relating to personal injury and property damage that you are responsible for.
Do I Need Insurance?
Many groups holding markets and exhibitions will have mandatory public liability insurance requirements for all stall holders.
In some cases each stall holder will have to take out their own policy, and in other cases the organisers will have a group policy available. Stall holders may be automatically be covered by this policy, or they may have to pay the organiser a small amount to be part of the coverage.
The best option is to first speak with the organisers of the market to see what the public liability insurance requirements are. If you are not satisfied with their response it may be best to speak with a qualified insurance broker about your options.
Even if there are no requirements to hold public liability for your stall, this doesn’t mean you shouldn’t both taking out any cover.
Markets can be hazardous places, and in today’s world people are all too willing to bring in the lawyers if they believe they have suffered a loss due to someone else’s actions.
If someone suffers a loss due to your market stall, there is a good chance they will come after you seeking compensation. With this being the case it is simply not worth taking the risk without insurance.
Insurance Quotes for Stallholders
Here at publicliabilityinsurance.com.au we can assist you with quotes on insurance for stallholders, but due to the nature of stallholder’s insurance you may be better off using a specialist insurer.
The reason for this is that our brokers and advisers deal with minimum premiums that are higher than the specialist market stall insurers can offer. This means their public liability insurance cost will often be lower than ours for stallholders.
You can request a quote on your public liability by completing our online insurance quote form.