03rd June 2010
The Important Points of Insurance Public Liability
Every business person or company will require insurance policies to cover themselves in the time of an unexpected or uncalled for incident.
Every business person or company will
require insurance policies to cover themselves in the time of an unexpected or
uncalled for incident. Given below are some points on an insurance policy which
is ideal for all business persons:
- Insurance Public Liability protects you from loss or damage
resulting from a claim made by a third party.
- This claim is possible only if the incident took place in your
business premises and was due to some type of negligence on your part, as
a business person/company.
- This type of insurance cover is vital if members of the public
or customers are required to come to your premises or you as a business
person needs to go to their premises.
- This cover pays out in the event of injury or loss of damage
which was caused through negligence on your part. For example, if a
customer trips on an unattended object in your business premises, and
injury is caused – this can result in an insurance claim.
- This cover will include any legal fees and or expenses which
results from any claim made by a third party.
- Insurance Public Liability can reduce your financial risks
- If your business falls under the category of “high risk” such
as construction work, it is always advisable to be adequately covered by
- Careful thought has to be given before you decide on the right
insurer to obtain this policy.
- You can either work with an online or offline insurer.
- Call for a number of quotes, whether online or offline, before
you decide on purchasing the policy
- Online quotes will require you to fill in the preliminary
online information form – make sure that you provide all details that will
help the insurer to arrive with a comprehensive quote.
- It is vital that all work areas of your business is included in
the Insurance Public Liability to make sure that you are adequately
covered at the time of a claim.
- It is very important that you have studied and understood your
quote very well, before you sign the agreement. The agreement will always
call for an annual payment which cannot be cancelled if you have any
- In the event your business is run and managed from your own
home, it is yet advisable to obtain this insurance policy.
- Keep your insurance agent well informed on the concept of your
business, including any changes which take place as well. These changes
can affect your insurance policy too.
- The required cover will depend on
the size of your business. Many small businesses will opt for a 1 million
cover, which is reasonable in the event you are faced with several claims
against you. Although covers are high, the annual premiums remain much lower.
- Businesses strongly differ from
each other. Insurance Public Liability should be customised accordingly.
Given above are a few basics on this type
of insurance policy which is commonly used by all business persons. Further
details and information is freely available on the Internet, and it is strongly
advised that you need a thorough knowledge on this policy before you make an