Is Public Liability Insurance Right For Your Business?

As a business owner, it’s important to ensure your hard-earned reputation is protected and that any mishaps that could arise are covered. With that in mind, it’s worth looking into public liability insurance. Check this out:

This type of insurance is not required by law and is often a ‘nice-to-have’ for many businesses. It provides coverage in case an accident or damage happens to a member of the public while on your property or in connection with your business activities. This includes injury, death and property loss, which are generally excluded by standard general business insurance policies.

Public Liability Insurance vs. General Liability Insurance: What’s the Difference?

A public liability policy also covers your legal costs, which may arise from defending your company against compensation claims or damages. It is not to be confused with workers’ compensation which is the insurance that protects your employees if they are injured at work.

Most public liability policies offer cover for the policyholder when they are working away from their own premises as well, but it is not a replacement for workers’ compensation. This is because it does not cover self-employed contractors, unpaid work experience students or volunteers who are not covered by workers compensation laws.

For most types of businesses that deal with customers or members of the public, a public liability insurance is highly recommended. It is a relatively cheap insurance to add to your commercial insurance portfolio and can provide peace of mind knowing your company is fully covered in the event of an incident.

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