All businesses that operate in Australia are strongly advised to have at the very minimum public liability insurance. The Australian Government’s small business website defines this as:
If you look at the examples above, points 2 and 5 seem to be the most relevant to virtual assistants.
The other part of insurance is making sure that the policy covers you for defending a claim. You may not have done anything wrong and feel that should you defend the claim you would not be found liable. However, guilty or not, the cost of defending the claim can be substantial so make sure your coverage includes this.
One of the items that the Australian Tax Office considers is whether you have business insurance or not. So while you may not need PL Insurance cover for clients, you may need it to be considered a small business owner or independent contractor for taxation purposes.
My advice is to shop around and go to some of the comparison websites to check out what is available. No, you can’t use your household public liability insurance for your business without advising the insurer. You may also need business equipment insurance. Do your due diligence, google it and then ask around for recommendations.
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