What is Public Liability Insurance?
Public Liability Insurance protects you and your business against the financial risk of being found liable for a third party death or injury, loss or damage to property or economic loss resulting from your negligence.
If you own a business, you’re responsible for any financial loss, damages or injuries inflicted on another person or property caused by your business. Although it may not be your fault or intention to cause harm to others, accidents happen and you need to be prepared.
Do I need it?
If you own any type of business, you would benefit from Public Liability Insurance.
Public Liability is highly recommended for business in all industries as the likelihood of something happening is unpredictable and the associated legal fees can be financially crippling.
What does it cover?
A Public Liability Insurance policy will typically cover you for:
- Legal representation costs brought on by the above,
- Injury or damage caused by your business to people,
- Damage caused by your business to third party property,
- Loss and damage of goods.
- In addition to the above, if you sell or deliver goods you may also want to consider getting Product Liability Insurance. Product Liability is suitable for people and businesses that supply products to customers. It protects you in the event that your goods or products cause personal injury, death or damage to others.