Public Liability Insurance

Public liability insurance for a business owner is a valuable net that protects your business against legal liabilities for injuring someone or causing damage or loss to their property. This legal obligation means that it is down to your firm to subsidise the cost of any legal action, as well as any compensation awarded to a successful claimant. Without the protection of a good public liability policy these high costs can cause your company to face massive losses and historically, many companies have been bankrupted. Public liability insurance protects you and your business against any damage to property or injury to people caused through the negligence of your business or your employees. With the correct policy you will be covered against the cost of legal fees associated with someone suing you and any awards to third parties for settlement of claims. It is a fact that without this insurance cover such payments would have to be met from your own pocket or from money held by your business.

Currently there is no law that says you must have this insurance policy but it could be business suicide not to buy the appropriate cover for your company.

Another important factor for making public liability insurance a necessity is that some business sectors (e.g local authority work), have a policy that prohibits them from working or employing other companies that do not have this insurance cover.

Public liability insurance cover

Due to the current “claims culture” society we live in today and because it is a business insurance it has become easier for third parties to claim against you for:

• Causing a trip, slip or fall incident – Compensation for pain, suffering and loss of earnings.
• Accidental damage to property – Claim for repairs and loss of earnings.

Few examples of liability indemnity claims 

Your business can be sued for injuries to members of the public, customers and damage to their belongings such as:

•  Where an unattended construction site is not securely closed and a member of the public enters it and injures themselves.
• A self-employed IT engineer visits a client’s site to carry out maintenance work on some equipment. Whilst undertaking the work he accidentally spills his tea on the client’s main server causing permanent damage to it.
• Member of the public walking past a landscape gardening company who leave tools out and they fall over them causing injury. Claim successful for not adhering to health & safety rules.
• A barber who leaves a chair out and a member of the public falls over it injuring themselves, the barber would be sued for bodily injury.
• A joiner who is working on a commercial property accidentally knocks a nail into a hidden pipe causing loss of power or escape of water. The joiner would be sued for damages caused and loss of earnings.
• A plumber fitting a pipe to a tank in the loft of a property, incorrectly puts it together and floods the house. The owner would claim against the plumber to repair and replace the damaged property.
• A mobile caterer whose chillers have become unknowingly faulty and as a result uses ingredients that are now perished and in turn serves a customer who becomes ill. The third-party would sue the business for food poisoning.

 

Liability insurance is it expensive

Public Liability Insurance cover may be a lot cheaper than you think and definitely cheaper than you paying compensation awards from your own finances, should a claim be made against you for property damage or personal injuries. The cost of your policy will depend on your type of business, the services you provide, any existing or previous claims and the limit of indemnity you require. You can get a quote, compare cover and if you decide to, you can buy online and download the policy documents to your computer in an instant.

Furthermore, as a successful business person you built your reputation through hard work, offering excellent services and you do not want to sacrifice this position by failing to get this essential cover because you feel it may be too expensive!

Liability indemnity policy consists of

Standard / Basic Cover
A choice of  public liability insurance limits of –   £1,  £2,  £5 or £10 Million.

And optional additional covers you can add

• Tools
• Stock
• Contract works
• Product Liability
• Business premises
• Business equipment
• Employers’ Liability
• Professional Liability
• Business interruption
• Legal expenses insurance
  

  Compare quotes & buy online

Who can buy this cover

This invaluable cover is available for limited companies, partnerships or sole traders.

Further information

If you require further information please check our online guide for definitions and frequently asked questions. However, if you prefer to talk to someone then please either use the Request a Call Back form or call us on 0121 628 9494 and a member of our professional team will be more than happy to help you. You can also email us at info@publicliabilityinsurance.co.uk. We are here to help find the right policy for you.