You’ve insured your vehicle, protected your tools and your passengers, which means that your business is fully covered and you can operate with complete peace of mind, right?
Possibly. If you have clients or customers on your premises, or are driving to places where there will be members of the public, you may also need public liability cover.
What is public liability insurance?
Public liability insurance covers you and your business if any loss, damage or injury is caused as a result of your business when carrying out work.
Who is it for?
When could it benefit you?
Whether you’re a business owner or contractor, the fact is you have a responsibility to ensure the safety of others, and that includes when you’re on the road, at your own premises or while working for a client. Here are just some of the reasons why public liability cover can help protect you and your livelihood.
- If you damage a client’s property while out on a job, a meeting or on a business visit, public liability cover is designed to protect you and your business
- Some clients may require you to have adequate public liability cover and without it, you could be at risk of losing a big contract
- Few independent businesses could survive the costs of a compensation claim, even a small accident could cause huge financial implications and possibly even bankruptcy
How much cover should you consider?
Many public liability polices offer cover from £1m to £10m depending on your needs, however the tricky part is deciding how much cover you really need. A good way to work this out is to take into account the following key factors:
- The level of cover you need depends on how much risk your business faces through its dealings and interactions with clients or members of the public
- Also think about how much legal fees or compensation could cost you in the event of a claim
- It’s worth checking if your clients’ contracts require you to have a minimum level of cover
Get in touch today – call One Insurance Solution on 0845 122 2708.