As a business owner, you need to ensure that your employees and customers are protected from any possible accidents, injuries or fatalities.
One of the ways to do this is by having Cheapest Public Liabilities Insurance. This protects your business from any legal claims that could arise due to accidents on your premises or in regard to goods sold or supplied by you.
Legal requirement for Public Liability Insurance
Public Liability Insurance is a type of insurance that protects you against claims made against you, your employees or representatives as a result of your business activities.
In other words, it covers any legal claims brought against your business that arise from faulty products or services, slips, trips and falls on premises owned by you or where your business operates.
Some companies may choose to carry Public Liability Insurance if they provide services such as lighting maintenance work; cleaning windows; building works; painting; electrical work and plumbing services.
Why take out a Public Liability Insurance policy if it isn’t compulsory?
Public Liability Insurance is a vital part of any business owner’s insurance portfolio. It provides protection against claims arising from negligence and breach of duty, which could be made by customers, visitors or others who are affected by your business operations.
If you don’t have Public Liability Insurance you could face:
- Financial costs if someone suffers injury on your premises as a result of an accident (such as slipping over on food debris) or illness (such as food poisoning), even if they were trespassing when they were injured.
- Paying out damages to the person who was injured, even if it was their fault that they got hurt. This can be very expensive!
Should my business take out Public Liability Insurance?
Yes, it is a legal requirement for all businesses to have public liability insurance. The insurance will cover you for claims of negligence or damage caused by your business, such as if someone trips over your premises or sustains an injury because of a fault in goods sold by you.
This type of insurance can also protect you against claims for injury or death arising out of the use of dangerous articles supplied by you, such as tools or machinery.
Should my company take out Cheapest Public Liabilities Insurance? One question that many small business owners ask themselves is whether or not they should get public liability insurance and if so, how much coverage they need.
There are pros and cons associated with purchasing this type of policy but ultimately it comes down to weighing up the risks involved in operating an organisation without protection against risk versus taking precautions now so that there are fewer problems later on down the line when things inevitably go wrong!
Conclusion
We hope this article has helped you understand the legal requirement for Public Liability Insurance. If you’re running a business, then it is important that you have this type of cover in place. It will give you peace of mind and protect your finances from any claims made against your company by customers or others.
