Accidents can and do happen in workplaces of all shapes and sizes. For this reason, you need public liability insurance. If someone visiting your premises, such as a customer, client or member of the general public, suffers a personal injury, you are liable to pay for any compensation they may need as a result of the injury.
Similarly, if you damage a piece of third party property while carrying out your daily business activities, you are responsible for paying to repair or replace this property. However, if you have a good public liability insurance policy, this can cover the costs of any legal expenses you may incur, as well as pay compensation to the third party.
There are various levels of cover that can be obtained with public liability insurance. Depending on the type of industry you work in, you may need more cover if your company conducts business that has a high risk of accidents or danger.
While public liability insurance is not a legal requirement, it is advised that companies take out a basic policy, at least. Even the smallest businesses would benefit from a cheap public liability insurance policy, ensuring they are covered for any accidents in the workplace, without having to pay large amounts of money on a policy.
Taking out a policy will protect you from a wide range of accidents and damages that can be sustained at work. Companies are able to choose the level of cover they want, usually from a level of between £1 million and up to £10 million. Largely, this will depend on the level of risk visitors and third parties are faced with when it comes to visiting or working with your business. It is also based on how much of a liability your business poses to public safety.
To compare a wide selection of UK public liability insurance policies available, visit Cuuver.com today to see which might be the best for your business.
This should not be construed as advice and is for guidance only.