14th July 2010

Public Liability and Professional Indemnity Insurance - Are Among The Most Important Purchases Made

Public liability and professional indemnity insurance policies are among the most important purchases that can be made for a business owner.

Public liability and professional indemnity insurance policies are among

the most important purchases that can be made for a business owner.  As

business people we are all aware of the fact that contracts are

written, signed and broken every single day.  Although people do

everything they can to prevent breaking a contract or breaching a small

contractual agreement between business people it can still happen. 

Sometimes it's a supply shortage and other times is plain carelessness. 

For those business people who are serious about their careers and about

growing their businesses there are insurance options to help cover them

and their business partners in the event of a devastating accident. 

Not meeting a contractual completion date or having a staff or public

accident in your workplace can cost thousands or even millions in some

cases, depending on the problem.

Public liability and

professional indemnity insurance can be obtained by just about any

insurance agent can help you to find the policy that is best for you and

your company.  There are different levels of insurance for different

company types since companies that are not bound by contract may only

need the public liability portion of the insurance rather than the

professional indemnity portion.  This insurance can be very expensive or

very inexpensive depending on the amount of coverage you require, and

your companies past insurance claim history.  This is one of the types

of insurance that will find your premiums go down each year rather than

up as well which is a nice bonus.  

Public liability and

professional indemnity insurance is most common among people who

practice in the following fields including medical, information

technology, law, construction, charities and the like.  The insurance is

designed to protect the policy holder from liability as a result of

them losing funds due to withheld information and similar situations. 

If you are responsible for providing advice to your clients as a doctor,

lawyer, architect, or construction consultant and the information you

give out is followed usually it ends with a good result but in some

cases if you gave that advice and the person you were giving it to did

not give you the whole story it is possible that the outcome could be

not so bright.  That is what public liability and professional indemnity

insurance is designed for; to keep you safe.

If you give anyone

advice it is worth looking into this kind of insurance to keep you

protected from those who will misuse your information and then try to

benefit from that.  Keeping yourself covered is the best defence against

this type of financial attack.  The insurance is affordable and well

worth it when you consider how much you could lose if you did not have


Many people are unscrupulous when it comes to money and have

no problem twisting a situation to work out in their favour, don't let

yourself and your company be a victim to that, get the right insurance

coverage today.