03rd June 2010
A Business Guide for Public Liability Insurance Cover
What is a Public Liability Insurance Cover? This insurance cover is necessary if members of the public, clients or customers visit your business premises.
is a Public Liability Insurance Cover?
This insurance cover is necessary if
members of the public, clients or customers visit your business premises. Even
if you run a home-business where customers are required to visit you to your
home, an insurance of this type might be a good idea.
does this insurance policy cover?
This policy will cover you if a customer,
client or a member of the public is accidentally injured by you or any other
person of your company in the premises where your business is conducted. The
cover will include any legal fees and/or expenses which result from any claim
made by a third party.
A Public Liability Insurance Cover will
only handle third party claims. It is important that your insurance agent is
well-informed on the type of business you manage. In the event any changes take
place in the concept of your business, you need to bring it to the immediate
attention of your insurer as this change can affect your policy as well.
To help you further understand the concept
of this policy, we give below two examples of claims it covers:
- You run a grocery store. A customer calls over to buy some
grocery and trips over a loose bit of flooring in your shop, and hurts herself.
Public liability insurance will cover your business if the customer claims
for injuries which she sustained as a result of the broken floor.
- You are a self-employed computer technician. During a site
visit, you accidentally knock over a cup of coffee and the contents spill
over the back of the computer and the entire system gets corrupt. Your
Public Liability Insurance Cover will meet the claim from the customer.
much cover does a business need?
This depends on the concept and the size of
your business. Many small businesses opt for a 1 million cover. Even though
this may sound a lot, it is reasonable in case you have several claims against
you. Even though the cover may be high, annual premiums remain much lower.
do you get a quote?
Public Liability is one of the most common
policies which is taken out by small businesses, thus, you should be able to
find a competitive quote.
Today, you have a choice between offline
and online insurers. Using online insurance agents is advantageous. You can select
a couple of websites and fill in the form which calls for some basic
information about your business. This will take only a few minutes. On receipt
of this form, the insurer will revert back to you with a quote. Once you have
received a couple of quotes from these sites, you can easily study them over
and select the best Public Liability Insurance Cover.
Before you place your signature on a quote,
make sure your have studied the entire proposal well, especially whether all
areas of your business has been covered. You need to make sure so that none of your
claims will be rejected by the insurer. Since businesses differ from each
other, the respective insurance policy too should be customised accordingly.