Public Liability Insurance and Small Business Cover
Insuring your business with the most appropriate insurance may be important to you. With a range of articles on small business cover including professional indemnity insurance, employers liability, public liability and trades insurance, we hope you find this website a useful resource.
Public Liability Insurance – what does it cover?
When you open a business you will be keen to build a strong and widespread rapport with the general public. The success of your business will often be dependent on constant interaction with society and you will desire that a public space such as a shop should be as busy as possible. The more people your business attracts, the more trade you do, but also the more your extended your public liability becomes.
You have an ethical and legal duty to look out for your clients or customers and may be subject to compensation claims at any point. This is where Public Liability Insurance could protect you from ruin.
Business Insurance and Public Liability Insurance are highly interchangeable terms and although business insurance can embody a whole host of policies, Public Liability certainly ranks as one of the most important.
Public Liability Insurance will cover you against the legal fees associated with defending a claim and also any payouts that need to be necessary. It is a close relation of both Professional Indemnity Insurance and Employer Liability Insurance, but is specifically concerned with liability towards the public (non employees).
Trips, slips, damage to property whilst providing a service can all be covered under Public Liability Insurance. There’s rarely a business that doesn’t involve some form of risk to third parties so even if you find Public Liability Insurance is not compulsory it could be feckless to be without it. If you work with government contracts you may find that Public Liability Insurance is compulsory at a minimum cover of figures up to £10m; figures that should open the business owners eyes to the necessity of comprehensive cover.
We live in a compensation culture and with regard to any slip or fall some form of negligence can often be found and exploited. In order to find the most comprehensive cover, sometimes it is necessary to get online, for example at http://endsleigh.co.uk. A conscientious business owner must primarily satisfy their duty of care at all times but if found wanting, they can at least be covered by Public Liability Insurance.