Public Liability Insurance

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What is Public Liability Insurance?

Public liability insurance is a general term for coverage for claims brought against the insured by a third party or member of the public. It covers damage or injury to property, health or life as a result of the use of dangerous objects or work with them. The liability also concerns a non deliberate infringement of the law or contract liabilities.

Public liability insurance is insurance for businesses rather than private homes. Most businesses need this type of insurance as standard. Indeed any business having contact with the general public will need this insurance. You are legally liable if a customer or employee is injured as a result of your negligence or breach of duty. You could face a claim not only for personal injury but also from the NHS for hospital treatment costs.

Liability insurance will cover the costs of any successful claims which are usually very high. It could also cover you if you damage third party property while on business. When taking out insurance you should always be clear about what line of business you are in and notify your insurer of any changes as this may affect your policy and potentially make a claim invalid.

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What does Public Liability Insurance cover?

Examples of typical claims can usually be sourced from simple accidents. If you own a laundrette and one of the machines breaks down and pours water on the floor it could result in someone slipping and falling. Whether they are a customer or an employee they could sue you as you are responsible for the maintenance of the machines.

Alternatively one of the flooring tiles might come loose causing someone to trip and once again you would be liable as you are responsible for maintaining the standards of the floor.

You might also have the type of business which does not have premises such as a form of consultancy where you visit clients. However, you are liable for damage done on the client’s property. For example if you accidentally spill coffee while meeting with a client and damage electrical goods or IT equipment then you would be liable for this. It is important then to be covered because the smallest, unintentional accident could result in a claim.

Things to Consider before Buying Public Liability Insurance

The amount of cover you need depends on the size and worth of your business. Other factors include the type of business that you have. Some businesses have to have public liability insurance and it must be of a certain type. Businesses such as riding stables are included in this because of the heightened risk factor.

Similarly adventure camps or water sports or other higher risk businesses must have this insurance as the public take greater risk as customers of these types of businesses.

Other businesses such as office or retail businesses present a far lower risk to the general public as a visit to these places is within the every day experience of the customer. The risks are also within the boundaries of every day life risks such as spilling hot drinks or tripping on carpet.

Even small businesses are insured with public liability insurance for around £1 million which is standard. This seems a large amount but payment for this insurance is not unreasonable. You can find out how much you public liability insurance will cost by getting online quotes. You can also talk to experts and seek advice regarding whether it is imperative that you have public liability insurance due to legalities and why.

You can get a rough idea by inputting your details to online insurance companies to see how much your public liability insurance premium might be. You can also see exactly what you are getting for your money and whether you need any other types of insurance such as employer liability insurance or professional indemnity insurance.

Online insurance quotes sometimes offer discounts if you take out insurance online so this is usually a good place to begin shopping and looking. Some online companies also list in short bullet points what it is they cover with a given type of insurance so you can get a quick overview of the summary of your insurance policy.

Most will also give instant quotes although these are usually to be taken as a rough guide. Many will also give information on the different types of policies they offer and to whom they are best suited. It is well worth checking these so that you an idea of what is on offer in terms of insurance.

Public liability insurance is very worth while even if it is not a legal requirement for your business. After all if you do get sued and you cannot cover the damages then you may have to face losing the business altogether.