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We like to use our blog to clear up insurance facts and myths, so if you’re after a more detailed public liability insurance definition, do check there.
In a nutshell, public liability insurance provides financial protection when a customer or member of the public suffers loss or injury because of your business. It covers costs like medical and legal bills that might arise as a result of a mistake, equipping your business with a financial cushion when accidents occur. Click below for a tailored quote and put a public liability insurance policy in place today.Compare quotes
A plumber is doing repair work on a domestic property, but hasn’t fitted the caps properly. This has caused water damage in the property he’s working on, as well as the property below. The landlord has since raised a public liability claim for this damage.
The public liability claim cost of £15,000, for repair of the damage and inconvenience caused.
The £250 excess (this is the part of the claim the policyholder pays).
At Simply Business, we offer a minimum level of £1 million for public liability cover, but how do you choose the right level for you?
Depending on the nature of your business, you may need more than the minimum level of cover, so it’s sensible to check your policy for every new job or contract. For example, companies working on government contracts are usually required to be covered for a minimum of £5 million or even £10 million in public liability insurance.
Need more details? Hear more about your business cover options from our expert team in a quick set of videos. Just choose the cover you’re interested in and get some expert insight into how each option can help your business.
It’s very important to make sure you understand what you need from your insurance. Use the check points below to get you thinking.