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Are you looking for liability insurance from a reputable South African insurance provider? In this article, we take a look at a few of the top liability insurance companies in South Africa for businesses in our country. Learn more about these providers and the types of liability insurance your company may need.

Top Liability Insurance Companies in South Africa

  • Budget Insurance
  • OUTsurance
  • MiWay Business Insurance
  • Econorisk
  • Momentum

A Quick Look at Some of South Africa’s Top Liability Insurance Companies

Budget Insurance Liability Cover

Budget’s business insurance products sometimes include forms of liability insurance. Their professional business insurance policy is designed for professionals such as lawyers, accountants, engineers, and more. Along with the other benefits on this policy, you can also get public liability cover that suits your needs and budget. This kind of insurance will protect you from claims against you by third parties for damages, injuries, or loss.

Budget includes forms of liability cover in other policies, too. Their tradesmen business insurance policy includes public liability insurance. Their medical business policy includes public liability cover and employer’s liability cover. Employer’s liability cover protects employers when their employees bring claims against them for insured events.

Their general business insurance and bed & breakfast insurance policies both include public liability too. Then there’s the errors and omissions option. This policy offers liability cover specifically for claims related to advice you give in your professional capacity and accusations of negligence.

Budget Directors and Officers insurance covers a company’s key decision-makers against claims for perceived failure in their performance and duties. There’s even a business vehicle insurance plan that includes cover for third-party claims against drivers due to accidents on the road.

OUTsurance Liability Cover

OUTsurance offers three liability insurance plans that can be purchased as standalone products. Their first option is public liability insurance cover. This policy covers you when you are legally liable to compensate a third party for damages or loss they experienced as a result of interacting with your business. You can add optional added cover for wrongful arrest and defamation, product liabilities including wrongful delivery, defective workmanship, forest and veld fires, and cover for the legal fees of defending any criminal action brought against your company or its employees.

Their second liability cover options is employer’s liability insurance. This plan covers employers when their employees claim against them for accidental death, bodily injury, and illness while employed. Finally, OUTsurance offers motor liability insurance. Their motor liability plan includes cover for damage or loss because of an employee causing an accident, using a third-party’s vehicle or moving a third party’s car or vehicle on your premises. Remember to check the exclusions part of the policy before you buy it to make sure everything you need is covered.

MiWay Business Liability Cover

MiWay offers a few liability insurance options for business owners. You can get broadform liability cover from MiWay. This plan is more comprehensive than mere public liability cover. It includes cover for damages, loss, and injury incurred on your premises due to your products or services. The policy also includes employer’s liability cover for when employees make claims against an employer.

Finally, the broadform MiWay liability insurance plan includes product liability cover and defective workmanship cover. An added benefit called work away cover extends defective workmanship and liability cover to other premises than your own. Their business vehicle insurance plan also includes forms of liability cover such as third-party cover for accidents.

Econorisk Liability Cover

Econorisk is interested in protecting the things that matter most to you and your stakeholders. Thanks to their corporate dynamic and their expertise in offering niche and specialised insurance products, they can offer a large variety of insurance options to cover your business. Plans can be combined or bought as standalone products. Some of the liability cover they offer are defective workmanship cover, employers liability cover, employment practices liability cover, fidelity and commercial crime cover, motor vehicles including motorcycles, products liability, and public liability including broadform cover.

Momentum Liability Cover

With momentum you can add public liability insurance to any of their standalone or combined policies. They offer business car cover, buildings combined cover, office contents cover, commercial fire cover, and electronic equipment cover.

The Momentum public liability plan is a cover option that you can add to any of the above policies. It covers you when a third party claims against you for damages that you or someone associated with our business may be liable to pay after an incident.

How to Choose Liability Cover for My Business

There are many great options out there. Different insurance providers offer different benefits, premiums, limits, and waiting periods. To find the best option for you, simply fill in our online form for a free quote.

DISCLAIMER: The information provided in this article is meant for informational purposes only and should not be construed as legal, medical, or financial advice. Facts stated in this article are correct at the time it was published.

Sources: Budget; OUTsurance; MiWay;

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