Public Liability Insurance
Get Competitively Priced Public Liability Insurance Cover, Today
Although not a legal requirement, public liability insurance is recommended for most businesses operating in the UK today. The team of brokers at Insurance by Simply will help secure you the most appropriate public liability cover to keep you and your business as protected against risk as possible.
Whether you want to purchase your public liability insurance independently or as part of a broader, more comprehensive policy, we’ll keep things simple, easy and entirely tailored to your particular business. Before we go any further, however, what is public liability insurance?
What is Public Liability Insurance?
Public liability insurance protects businesses in the event that a member of the public (this can be a customer, client or another third party for that matter) suffers an accident or injury, or has their property damaged, as a result of your business or its activities. Public liability insurance cover comes at various levels, the standard options being: £1 million, £2 million, £5 million or £10 million with higher limits of indemnity available upon request.
Common public liability claims include slips and trips on company property (this is typically the most common public liability claim), injury caused by falling objects or being burned or scalded, to name just a few. Your public liability insurance will cover compensation claims made as well any legal expenses or medical fees associated with the claim. If a property has been damaged, then the public liability policy would cover the cost of repairs.
An example of an accident leading to a public liability claim being made would be if someone slips on a wet floor in your property, but there were no hazard signs laid out to offer an adequate warning.
Public liability insurance doesn’t cover you if one of your employees causes injury to a third party (or damages property) as this would fall under employers’ liability insurance.
Who Needs Public Liability Insurance?
Whilst not all businesses will need public liability insurance, those that interact with the public (hence the name) in any way most likely will. Unlike employers’ liability insurance, public liability insurance isn’t a legal requirement, however, that doesn’t mean you shouldn’t consider it.
Besides that, certain organisations and trade bodies will require evidence of public liability insurance in order to join/work with them; in order to join the Electrical Contractors’ Association, for instance, you must hold a minimum of £2 million in public liability.
What Level of Public Liability Insurance Do I Need?
The level of public liability you require depends on factors including business size, function and how regularly your business interacts with third parties. If you’re a small business, perhaps a sole trader, then you’re going to require a lower level of public liability insurance than a multinational corporation, for instance. To help determine the level of public liability you’re likely to need, consider the following:
Does your business use dangerous machinery or equipment?
How much interaction with the public (or other third parties) does your business have?
Have you had any previous public liability claims made against you or your business?
How large is your business, and how many employees does your company have?
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Get Your Public Liability Insurance With Insurance by Simply
Using a specialist broker like Insurance by Simply to get your public liability insurance is recommended because it enables you to get a more tailored and bespoke policy than you would going direct to the large insurers. If you do the latter, then there’s a good chance you might not get the best value that you could do if you utilised a broker.
To run a business in today’s world is to expose yourself to risk, particularly if it regularly interacts with third parties (like clients or contractors) or members of the public. So, help yourself mitigate that risk with a solid public liability insurance policy with the aid of Insurance by Simply. It’s the safe thing to do, but more than that, it’s the smart thing to do.