What is Public Liability Insurance?
Public Liability insurance provides your business with financial protection for any unforeseen damage or injury sustained by your customers, suppliers or any member of the public during the course of your business transactions.
Accidents Happen to the Best Businesses
All business owners have a legal responsibility to take reasonable steps to ensure the safety of their customers, suppliers, members of the public and their property. Accidents do happen. Even the most careful business runs the risk of accidentally injuring someone or damaging something during the daily course of their operations.
It is important for almost every kind of businesses from those that operate in trades and service industries, to those operate out of an office, showroom, warehouse, shop or any premises to have Public Liability insurance to protect your business.
When faced with a Public Liability claim, the financial impact of a lawsuit has put many businesses into financial stress and many out of business.
It is therefore critical to consider Public Liability insurance to protect your business.
Given the varied industries and occupations that can be covered by Public Liability, the cost can vary due to a number of key factors, such as:
· The type and nature of your business
· Your business turnover and size
· The amount of insurance cover your business needs
Other factors that may play a part in determining the cost of your Public Liability policy are the location your business; what is included and excluded by the policy; any potential exposure of risk to flood or fire and the insurance provider you choose.