Public liability insurance covers a business against damages and costs that arise from claims made against you for accidents causing injuries to a person or damage to their property. Set against the potentially large cost of a claim, the outlay for this kind of protection is very modest and with specialists in the sector such as Staveley Head offering business and professional liability insurance policies tailored to your needs, you do not need to be an expert in the field to find the right policy for you.
While making sure you follow correct health and safety procedures can go some way to helping prevent accidents, it is not always possible to prevent them occurring. In what continues to be a difficult economic climate, having the added protection of public liability insurance can prevent your finances taking a substantial hit in the event a member of the public is caused injury - or their property damaged - in the course of your business operating.
Should a claim be made against you, public liability insurance will cover you for damages to the individual if they are successful - including expenses. It will also cover any legal fees associated with the claim and fund any medical costs that the NHS chose to recoup from you.
The amount you need to pay for your cover will be linked to the risk level of the business you operate and if you are within a sector who works closely with the pubic you are likely to need a higher level of cover. It is worth noting however that you cannot generally take out cover below the value of £1 million, with firms who work on government contracts often required to possess cover in excess of £5 million.
