3 min read
How Much Does Public Liability Insurance Cost in NZ?
There's no flat rate for public liability - the premium depends on your trade, turnover, and the limit you choose. Here's what actually moves the price and how to keep it fair.
What drives the price
The main factors are your industry and the risk it carries, your annual turnover or wage roll, the cover limit you select (commonly $1m, $2m or $5m), your claims history, and any higher-risk activities you undertake. A low-risk consultancy and a high-risk contractor will pay very differently for the same limit.
Getting the limit right
Buying too little to save a few dollars can leave you exposed on a big claim or lock you out of contracts that require a set limit. Buying far more than you'll ever need wastes money. The right limit reflects your real exposure and what your clients require - which is exactly what a broker helps you judge.