2nd June 2010
It is highly unlikely that all the
business owners are aware of public liability insurance
companies' existence, but earlier or later they have to find that out.
And in many cases “earlier” is much more preferable than “later”. These
companies provide public liability insurances in order to shield companies from
paying large amounts of money in case an employee, visitor, client, courier or
customer gets injured in an accident on their place of business.
This insurance also provides a coverage
for a damaged property of the third party under similar circumstances. If you
run a small business, getting this insurance should be one of the most
important things you keep in mind. It is mistaken to think that insurance is
not a thing of the first necessity.
Public liability insurance
companies will help you to avoid paying huge amounts out of your
wallet, and therefore you will be able to save your finances from being
seriously injured. Of course, different businesses have different levels or
risks involved in the process of everyday work, however, accidents can happen
most unexpectedly even in the safest surrounding.
When we speak of an accident, you
probably imagine a manufacturing factory with heavy machinery or a building
ground. But in fact an accident can occur at a staircase when a person stumbles
and falls down, at a party when your asthmatic guest stops breathing because of
smoke of the cigarettes, or even in your own office when your employee or a
client slips on a wet floor. Legally you are liable for all these misfortunes,
and public liability insurance companies are
there to help you.
If you have this sort of insurance, you
will get coverage for all the medical bills of the third party, like calling
the ambulance, various tests,
hospitalisation or surgery.
Needless to say these bills might be exorbitant,and if your company has
just recovered from serious financial problems, it would be extremely
unpleasant to pay those bills out of your pocket. Moreover, insurance covers
even the legal fees in case you are asked to visit a court.
An insurance company will need to know
some particular information in order to grant you public liability insurance.
Contacting one of the public liability insurance
companies, you should get ready to answer a number of questions
concerning the type of business you run, public events you usually throw,
number of people you invite, number of employees you hire. Also, they will ask
you about the minimal and maximal amount of coverage you expect. It is
crucially important to concentrate on every point of the policy you are offered
in order to avoid misunderstandings, disappointments and unpleasant surprises.
Try to check out at least a few
insurance companies before making your choice. Their terms, conditions and
prices will not be the same, and you should select the most suitable variant
for your company.
liability insurance companies can offer you a very cheap option – it is
very tempting to accept it, but remember that your final target is not a cheap
insurance, but a functional one.