As a business owner, you’ll know all about the day-to-day risks that can affect it, but with so many different types of insurance policy and levels of cover available, it can be difficult to know exactly what you need to have in place to mitigate all eventualities.
Public liability is one of the most commonly bought types of insurance policy and like many other types of business insurance, it can provide invaluable protection. But whether you should buy public liability insurance depends on the nature of your business and who you come into contact with – so here’s what you should know.
If you’re ready to compare product liability insurance quotes, give us a call on #CAMPAIGNBUSINESSSERVICENUMBER# or leave a few details and we’ll call you back. Or read on to find out more about this type of cover.
Public liability is a type of insurance that covers your business against claims made against it from a member of the public for damages, injury or even death.
It doesn’t matter what size your business is, whether you’re a sole trader or the CEO of major business, public liability cover is often well worth the investment in case a customer, client or member of the public decides to take you to court. From a customer tripping over a step as they enter your shop to a member of staff accidently causing damage to a customer’s property, having appropriate cover can put your mind at rest.
If your business or your work means you come into contact with the public on a regular basis, then taking out public liability insurance is a wise move.
It’s really important to realise that public liability isn’t just for office or shop-based businesses, it’s also vital if you’re a tradesperson and regularly go into people’s homes – after all, it only takes is a spilt tin of paint or a damaged carpet for a claim to be made.
Bear in mind that some industries, organisations or trade associations will expect you to have cover. For example, if you work with local councils (or would like to) then you be may be expected to have a minimum of £5 million worth of public liability insurance so consider this when searching for quotes.
Public liability insurance is not a legal requirement for most businesses. The only time you will need it by law, is if you run a horse or pony riding establishment. You can find out more at GOV.UK.
The only liability insurance that all businesses must have is employers’ liability which covers staff, including part-time employees.
While public liability isn’t compulsory, it can prove a valuable asset and, in most cases, you’ll be able to bolt this on to your main business insurance policy as an extra feature.
Policies vary by insurer, but most will cover you for:
The amount of public liability cover you need, comes down to your business and weighing up the particular risks involved but typically, cover ranges from £1 million all the way up to £10 million.
Policies are tailored to meet the needs of your specific business so it’s almost impossible to calculate an average cost. To work out the best price for your business’ public liability insurance, providers will ask you:
Of course, as with any sort of insurance, always compare a few quotes to make sure you’re happy with the price and level of cover. And when it comes to searching for deals, remember that cheap public liability insurance doesn’t always mean it’s the best and it’s crucial to be absolutely clear about the terms and conditions.
At uSwitchforBusienss, it’s easy to compare public liability insurance. Just tell us what you’re looking for and we’ll do the hard work for you – all you’ll need to do is decide which quote best suits the needs and budget of your business.
To get started and find the best public liability insurance for your small (or large) business, give us a call on #CAMPAIGNBUSINESSSERVICENUMBER# or leave a few details at the top of the page and we’ll contact you as soon as we can.