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Public liability insurance is very important for any business which deals with people in general or customers and it is meant to cover all the expenses due to claims made by the third-party or customers. This in reality means that in case the business causes any injury or damage to clients or members of the public, or if accidents happen at the premises of policy holder, having a good public liability insurance policy may save the business from financial ruin, as the fees and amounts of claims are really high these days.

Your public liability insurance allows you to appoint lawyers to defend you and it covers legal costs.  It is advisable that all those involved in the business, all employees and sub-contractors have public liability insurance for their own protection. The claims mainly fall into two main categories, the personal injuries and property damage.  Accidents may happen in any business from your clients slipping on a floor in your shopping center to your employees accidentally damaging your client’s paintings during construction project.  If this happens and the injured person sues you then your public liability insurance can really save your business and your mental health.

Whatever the cause –  if it is not on your excluded list, with public liability insurance the compensation you have to pay is covered.  Before purchasing this type of insurance one has to know what possible risks to expect in the business and whether the coverage is effective.  The policy amounts vary according to the type of business and although with some businesses the risks are nil there are others such as construction work where chances of accidents are high.  Some of the claims in public liability insurance are

  • Loss of income
  • Hospital and rehabilitation
  • Domestic and living help
  • Home modification
  • Non economic loss
  • Fund management
  • Pain and suffering

Public liability insurance is a must for all kinds of businesses, small or big companies and self-employed individuals.  To buy this policy one can purchase a comprehensive liability policy( with public policy included)  or you can buy a public liability policy tailored to your needs by a reputable insurance company.  It is important that you purchase your policy from professionals who will understand the nature of your business and answer all your questions. You should not wait for anything bad to happen to buy public liability insurance but have it ready in case you have to fight a legal battle.

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