Who Might Need Public Liability Insurance?
Do I Need Public Liability Insurance?
There are many different types of businesses in the UK all with varying Liability insurance needs. Here we explain more about Public Liability insurance.
What Is Public Liability Insurance?
Some professions have their own regulations, so for some occupations such as architects and solicitors then Professional Indemnity insurance is a necessity. The same goes for any company who employs anyone other than themselves, they are legally required to have Employers' Liability insurance cover. These are all areas that an insurance broker can advise you on, but who needs Public Liability insurance? Public Liability insurance is there as a safeguard for anyone or any business who could potentially find themselves being the subject to a claim for negligence being made against them by a member of the public or a customer. This type of cover would protect your business, and pay out for injuries to third parties or damage to third party property should your business (or persons working on its behalf) be found negligent. It may also cover any legal fees/court costs incurred.
Why Might You Need This Cover?
No matter what safeguards your business has in place, there is always the risk of an accident happening. If you have members of the public that visit your premises, then this enhances the need for cover. Should someone trip over something or slip on a wet surface and injure themselves, or have their property damaged in any way, you can rest assured knowing that you are financially covered for any compensation awarded to them that you are deemed liable for.
So What Might Be Covered?
Most polices can be tailored to your specific company's requirements, but as a rough guide, this type of policy covers a person or business for their legal liability to pay any damages to persons, their property, or both, which is the result of negligence by the business or person's activities. For example, if you were to unwittingly use the incorrect material for a roofing job that resulted in poor or inadequate shelter, the customer could claim back from you the costs of correcting the work, resultant damage and making it fit for the purpose intended.
Always Check Your Contractors Cover
If you are in a position where you are the person or company who is hiring a contractor to do some work for you, then always make sure that they have their own Public Liability cover. Documentation should be recorded and checked that cover is still current. Even if you are simply hiring a children's entertainer, then proof is a must. Always make sure the cover applies for your type of premises and any situation that is relevant to your requirements. For a more in depth description of this cover and to find out exactly who needs Public Liability insurance, then visit our Business insurance page.ng on what organisation it is and in which country; Malpractice Insurance is one name, and Errors and Omissions is another. If you are unsure if it is a type of policy that you may require or could benefit from, then contact an insurance broker who will be able to explain exactly what the policy covers and if it is suitable for your line of work. A phone call to ask them “what is Professional Indemnity insurance?” could easily solve your query and help you arrange the most suitable cover for your business.