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Although it’s not a legal requirement, that doesn’t mean public liability insurance is unnecessary. Holding a policy is considered good business practice and some organisations that you carry out work for such as councils may even require it.
In short, a public liability policy will protect you in the event that you are found to be at fault for property damage and/or injury to a member of the public when you are carrying out your work duties.
There are many variations to a public liability policy that will reflect on your individual specifications such as:
Whether you are a businessperson, a professional or a tradesman; anyone who is self-employed or anyone who offers services and/or goods can benefit from holding a public liability policy.
While most business owners are reluctant to consider the possibility that a claim will be made against them, it’s essential cover for those who want to protect themselves in the event of any potential claim.
If a claim is made against you, according to British law, you will be liable to pay the claimant any due compensation and legal fees.
In some cases the total amount payable can amount to millions and you will be held liable to pay legal expenses even if the claim is unsuccessful.
If you aren’t in a financial position to be able to cover any due costs, it is likely that you will have to claim bankruptcy which could permanently affect your financial status.
This is where a public liability policy will assist you, as it will assist in the payments of all indemnified costs that could help keep you in business.
Accidents happen, whether that’s a falling can of paint or an injury caused by a wet floor. A public liability policy will pay any costs associated with a claim including:
Whether you are an established or a start-up tradesman, public liability could be the most important investment for your business.
Tradespeople tend to work with high-risk equipment and technology, it is therefore essential for those involved in the trades such as plumbers, builders, plasterers, electricians and roofers hold public liability insurance.
If a claim is made against you and you don’t have a policy in place, you will be liable to pay any due compensation which could potentially put your business in jeopardy.
There may be strategies that you can implement in order to reduce risk, but it is impossible to completely eradicate the possibility that a claim will be made against you.
In some cases one of your clients may wish to see proof that you are insured before they allow you to carry out work on their property.
Being part of the trade industry means that a lot of your work will come from word-of-mouth and if you fail to produce the requested documents, this could have a detrimental affect on your business and others may be reluctant to use your services.
The limit of indemnity that you require will depend on the size, location and type of service/goods you provide.
Indemnity limits vary from £1 million, £2 million and £5 million, but can also extend to £10 million if you take on a big job.
Whereas a public liability policy isn’t a legal requirement; if you have employees you will legally have to insure them. If you fail to cover your employees you could face a substantial fine.
While public liability covers you against third party property damage and/or injury, employer’s liability will cover your employees against injury or disease arising as a result of their employment with you.
You will lawfully require an employer's liability policy if you have employees including:
The legal minimum limit of indemnity is £5 million, however constructaquote.com offer £10 million as standard.
When it comes to deciding what insurance is right for you, we won't pressure you into making a quick-sale.
We will give you all the information you require in order for you to be sure that you’ve got the right policy for you.
We cover over 750 trades and have a team of in-house public liability insurance specialists available to speak to you with regards to any enquiry you may have.
Even if you’re unsure of the cover you need, we’re always here to help you because we care about you and your business.
We will always be transparent, honest and helpful. We are constructaquote.com and honesty is our best policy.
To get started simply enter your details into the quote form at the top of this page.
If you need more information you can:
Ping us an email: CustomerService@constructaquote.com
Call us: 02920 849514
Or pop in:
Barclay House, 2-3 Sir Alfred Owen Way, Caerphilly, CF83 3HU