While it is an enormous part of covering yourself and your business, the sad truth is many business owners don’t ask the question: what is public liability insurance? This negligence can lead to you paying astronomical amounts in fees for damages.

Today, we at Cuuver are here to explain why all companies should take out a public liability insurance policy to cover themselves from a range of pitfalls, and why it’s important to get the right policy for you.

Do I need public liability insurance?

Some businesses are not legally required to have public liability insurance, but if members of the public will come into contact with your company – whether this is from receiving a delivery to visiting your premises – it is definitely something you should be investing in. Even if you conduct business from your home, or if you use your home as a meeting place, you should take out a public liability insurance policy.

What does public liability insurance cover?

The great thing about getting a good public liability insurance policy is that it covers you and your business from a great many things.

Predominantly, the policy will cover your company if somebody sustains some form of injury from your business. It also protects you if you damage third party property while you are in the process of working – even the smallest amount of damage could mean a hefty bill for your company. If you are taken to court over this, your legal fees will also be covered by your public liability insurance.

How much cover do I need?

The level of public liability insurance cover your business will need depends on the level of risk that is involved in the day to day tasks of your company. If you do some research public liability insurance for your particular industry as a whole, you will probably discover that there are accepted minimum standards for a policy. Levels will differ from industry to industry; for example, construction companies will probably need more insurance than a marketing agency.

Companies that work on a government or local authority contract usually have a minimum level of cover of between £5-10million.

Compare public life insurance policies with Cuuver, here.

This should not be construed as advice and is guidance only.