Public Liability Insurance - What do I do with it?
Public liability insurance is ‘piece of mind’ so technically, you do nothing with it.
When public liability insurance is purchased, you often get nothing to show for it- maybe a piece of paper with details of your business and your cover, even this can be done electronically now.
So what’s the point I hear you ask?
Let it be known, public liability and employers’ liability insurance may be amongst the best purchases you could make as a business. It allows you to be on your guard!
Accidents do happen, the majority of them will be unpredictable and unavoidable and in many cases you or your business could be left financially liable.
Public liability insurance provides financial protection for unfortunate incidents where a member of the public will issue a claim against you or your business. It is primarily beneficial if your business operations were to accidentally injure someone or damage their property in some way.
Example of an incident that could result in a claim:
You are a painter and decorator. You are up a ladder paining the higher end of a wall. The vibrant red paint tin falls onto a customer’s cream carpet which you had not covered. In this instance the property owner will claim against you for a new carpet. Your public liability insurance will cover the cost of the carpet.
From a different point of view:
You are a painter and decorator. You are up a ladder paining the higher end of the wall. You leave for lunch, your ladders still set up in the room with the paint tin at the top. The customer walks past the ladder and the tin falls onto their head resulting in concussion. Your public liability insurance will cover the cost of any compensation awarded.
No matter how careful you, your employees and your customers may be, accidents can still happen. Could you really afford to buy your customer a brand new carpet? It is assumed that the answer is ‘No’. Without a doubt, that is the point of public liability insurance.
Specialising in the construction industry, we are aware that the risk of injuries or damaging property is considerably high. We aim to provide public liability insurance policies that are specific to you. Protect your business now with a public liability insurance quote.
