A Guide To Public Liability Insurance

If you run a business and you’re considering taking out Public Liability Insurance, then there are a few things you need to know. We’ve put together a handy guide to set you off on the right track, so read on to discover more.


What’s Public Liability Insurance?

Public Liability Insurance is designed for businesses that come into contact with the general public. If you run a business, Public Liability Insurance could cover such things as legal costs and compensation payments if you were held responsible for causing injury (or damage to the property of) a customer, contractor or a member of the general public.

Although every policy, provider and circumstance differs, you’ll typically find that this insurance covers such things as general compensation, loss of income, medical expenses and repairs. So find the right insurance coverage and it could help to cover some of the substantial bills you’d face if you were found liable for someone’s accident, injury or damage to their property.


Do I need Public Liability Insurance?

In the case of most businesses Public Liability Insurance is not a requirement by law, but it is highly advisable, giving you reassurance. Moreover, there are some notable exceptions, so if you were to run a horse riding stables, for example, you do need this insurance.

Public Liability Insurance is advised in a number of other circumstances too – firstly, if you run a business that the public regularly visits throughout the day, like a shop or restaurant. Secondly, it is advised if you supply services at a client’s property, so for example, if you are an electrician, plumber, painter or decorator.

Moreover, Public Liability Insurance could also help you if you run a business that operates in public areas – for instance, if you are a window cleaner, builder or registered street trader, to name a few examples.


Public confidence in you

Whether you are required to have it by law or not, Public Liability Insurance is something that customers like to see; it gives them confidence in you. Public Liability Insurance marks you out as a responsible business owner and why would you want to be anything else? If you want to keep your customers happy and keep them coming back to you, then having this insurance in place is a good step to take.


Want your business to grow?

If you are committed to seeing your business grow over the coming months and years, Public Liability Insurance is crucial. In fact, if you’re looking to take on more contracts, particularly in the public or charitable sector, you’ll find that this insurance is often a specification of the contracts.

Your company won’t even be considered an approved supplier to most organisations of a significant size if you don’t have the right insurance in place. So if you don’t want to put your business out of the running to win key contracts, tenders or franchises, put the right insurance in place. You don’t want to miss out on contracts that could help to secure the future of your business.


Help your customer base to expand

Are you looking to increase your customer base so that you’re not so reliant on your few returning customers? Then you might also find Public Liability Insurance helpful. How so? Well, customers often look out for businesses and tradespeople that have signed up to industry standards and service agreements.

One popular place for trades-people to advertise their services these days is via websites such as Checkatrade, but look at their standard, and you’ll see that all new members are required to have, you’ve guessed it: Public Liability Insurance. Last year, over six million people used this website to find the tradesperson they needed and you don’t want to miss out on an audience of that size, so take out this insurance to get ahead.

Ultimately, having Public Liability Insurance could help your customer base to grow. Why wouldn’t you want to embrace every opportunity to do so?


Join your industry peers

Moreover, you’ll often find that Public Liability Insurance is a requirement for certain industry and regulatory bodies, such as the Association of Plumbing and Heating Contractors Limited and the Federation of Master Builders to name but a few.

Signing up to such organisations will help you to build a network of useful industry contacts, provide you with insights into industry best practice and lots of advice relating to your sphere of work. Also, industry associations may also provide you with additional avenues through which to advertise your services – so don’t miss out on these opportunities to promote your business.

Reassurance and protection

Moreover, Public Liability Insurance will help to protect your business, giving you peace of mind so that you can concentrate on the job in hand – the day-to-day running of your company.

Moreover, it’s an insurance policy that may well have a broader remit than you might expect. As we’ve seen, if you have business premises that customers are constantly popping into throughout the day then Public Liability Insurance would offer you protection in the event that they or a passerby had an accident.

Public Liability Insurance also offers protection if you or your contractors are out and about delivering services on your client's property or in public places - so if you are a builder or decorator, for instance, it could assist.


Ever had uninvited guests?

But there is another scenario in which this insurance could be extremely helpful, and it’s not one you can plan for; when someone enters your property without permission and hurts themselves – a trespasser. So having Public Liability Insurance could cover you for many eventualities.


Protection from third party claims

Remember that Public Liability insurance is about protecting your business from third-party claims – that’s those people outside your business, rather than those within it. If you run a business and you have employees, employers’ liability insurance is a legal requirement – you can’t operate your business without it.

So there you have a guide to Public Liability Insurance and how it could benefit your business. If you want to find the right insurance package that is tailored to the needs of your business, consider talking to an experienced insurance broker, who will be happy to help and advise you.