3rd June 2010
Let us first get the definition for Public
Liability Insurance; it is an insurance which protects you from loss or damage
resulting from a claim for damages by a third party arising from any negligence
on your part, as a business person/company. This is part of the law which
focuses on civil wrongs. If your business calls for members of the public or
customers to come to your premises or you need to go to them, it is always
vital to consider this type of insurance policy.
Practically every business should have this
insurance cover tailored to meet the specific risks and requirements according
to the type of business you handle.
does a Public Liability Insurance Cover?
It is vital for every business because it
will pay out in case a mistake is made which causes injury to a member of the
public or a customer, or even damages their property. One such common incident
is when a customer slips or trips over at your business premises and damage is
caused – it can result in an insurance claim.
Another common example; if a spill on a
shop floor isn’t marked adequately and clearly with a warning sign and a
customer slips and gets injured they can claim for compensation. In a business
premises there can be a great number of similar situations and a Public
Liability Insurance will always cover this cost.
This is a highly recommended cover for all
businesses which can reduce your financial risks significantly.
If your business involves construction work,
you can be very sure that the main contractor will insist for a valid insurance
cover because of the level of risks involved. Given below are some examples as
to when an insurance cover of this type becomes valid and useful. These
examples will help you to understand the requirement of buying such an
you are installing an alarm system at a property and whist securing the
cables you accidentally hit a nail into a pipe and cause a considerable
amount of damage. This could be claimed through a Public Liability
building a brick wall you can accidentally drop some heavy materials and
damage your customer’s driveway.
Carpenter: If you were fixing a door, it can accidentally drop and
cause damage to your customer’s property.
will be required to fix outside antennas – most often than not this
happens on the roof of the building. If by accident you drop something and
damage your customer’s roof and cause considerable damage.
During the course of your work, you may accidentally damage a pipe which
can cause a leak which might flood your customer’s property and cause a
significant amount of damage
Situations such as these can be claimed
from a Public Liability Insurance cover. The value of such an insurance cover
is beyond measure as it gives you immense peace of mind in the event of any
loss or damage to your customer or their property.