3rd June 2010
Before you decide on obtaining a couple of
Public Liability Insurance Quotes in order to select and invest on this
insurance policy, its best you first decide what you exactly require.
Most business people will require a yearly
policy for a full-time business, trade or profession. When you request for
quotes, they will determine the cost of your insurance policy depending on the
coverage of your business.
You will need to provide some basic information
of your business to either get an online or offline quote. Given below is the
information you will need to provide to obtain an insurance quote:
1) Your type of business
2) The type of incorporation of
your business – limited company, sole proprietorship, partnership etc.
3) Provide an estimate of your
annual turnover of the business.
4) For a Public Liability
Insurance Quote, it is important and necessary that you provide details of any claims in the past. You will also need to provide details of any incidents that
may result in a claim being filed. For prior claims, you will need to provide
the dates, circumstances and amounts also.
5) Whether your business is
carried out in a commercial or industrial zone, other than your office or shops.
6) Whether you have any subsidiary
7) Whether you intend selecting
public liability and product liability insurance on your quote application. Product liability is a cover in the event the products of your business caused
damage to third party members. Public liability is a cover in the event a third
part suffers damages on your premises.
8) Provide the total number of
workers in your business. This will help the insurer to calculate the premium.
The total number including directors/partners, number of clerical partners, clerical
employees etc. – all need to be included.
9) Incidents related to
occupational conditions and diseases also need to be provided.
10) The start date of coverage needs to be provided in order to
calculate a quote. Generally every insurance company provides a 30 day period
for a quote.
Obtaining an online Public Liability
Insurance Quote is convenient as you will be able to receive the quote
confirmation immediately to your email account. Requesting for an insurance
quote does not mean that you are obliged if buy the policy; any business will
generally call for a number of quotes and select the most appropriate.
Premiums given on the quote are not the
final figure – it can be slightly higher or lower. You will be able to arrive
at the final figure after negotiations/discussions are carried out.
Once you have called for a number of
quotes, do not be hasty to choose a policy. Initially, take your time to study
each of them and the best will be to carry out a cost comparison. Also make
sure that the quote covers all areas of your business. It is vital that it has
provision of all areas depending on your type of business. This way you will be
able to decide and select on a reasonably priced Public Liability Insurance