At Mercury, we can help you find the right public liability insurance policy to suit your business needs. Don’t get caught out by third party claims. Protect your business and your clients today.
What is public liability insurance?
Public liability insurance is designed to protect your business against third party claims for negligence resulting in loss, injury or illness. It will cover the cost of any legal action and compensation claims.
If your business interacts with the public in any way, then liability insurance is a must. While not compulsory by law, not having insurance could cost you significantly if a claim becomes necessary.
What does public liability insurance cover?
Whether you are a large business corporation or require a sole trader liability insurance policy, your policy will cover your business for any injury to the public or damage to third party property – even if it is just a minor scratch or dent.
Generally, businesses which are open to the public – such as sports centres, hotels and shopping centres – will need a higher level of cover than those less exposed to the public.
Companies that organize events, including corporate events and industry gatherings, may also want to consider a separate liability insurance policy for events.
How is public liability insurance calculated?
Your public liability quote will take into account your type of business and is calculated accordingly. Key factors include whether it welcomes the public in large numbers, such as a shopping centre or hotel, or if you carry out small jobs on other people’s property, such as a plumber, electrician or carpenter. Whatever the case, your public liability insurance quote will reflect the individual needs of your business.
Your liability insurance quote will also consider your level of business activity and turnover. Self-employed public liability insurance for tradesmen such as plumbers and electricians will also include third party cover for any accidental damage.
The difference between public and employer’s liability insurance
It is important to understand the different between public liability insurance and employer’s liability insurance. Public liability covers your customers and the public for any inconvenience, loss or damage you may cause them. Employer’s liability insurance covers the people that work for you and protects them if they have an accident at work. Many businesses will require both.