A public liability insurance policy protects businesses against third party claims for injury, loss or damage to property as a result of the activities of their business.
Does my business need Public Liability Insurance cover?
Any business that invites visitors on to its premises or handles work on client sites needs public liability insurance.
Public liability insurance protects businesses from a claim by a customer should they suffer a loss or an injury resulting from the activities of their business. For example, if a member of the public slipped on a wet floor with no warning signs around, or if someone carrying out work on a client’s computer accidently spilled water on it during a visit then a claim could be taken out against the business.
However, if you have public liability insurance in place then the claim would be made against that policy rather than the business itself.
Penalties
Although there are no legal requirements for Public Liability Insurance, it is important to remember that cover could protect your business in the event of a claim. Your policy could help pay for costly compensation claims which could include loss of earnings, future earnings, damages as well as legal costs, if you are found at fault.
Depending on the type of business you operate, you may also find that some clients will require proof of your Public Liability insurance in place before they hire your services.
Click here to read more about Public Liability Insurance.
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