Everybody makes mistakes from time to time, and accidents do happen but when they do you’ll want to make sure that you’re protected against any claims of loss or damage against your business.
Public Liability Insurance and Professional Indemnity Insurance is not a legal requirement for any business, however most business owners and employers would consider it essential in order to protect their reputation and minimise any costs that they could incur from a member of the public who decides to make a claim against them.
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Why do I need public liability cover?
Public liability claims could happen to anyone no matter what your type of business. Something as simple as spilling a hot cup of coffee on someone or a member of the public tripping over tools left outside your van could lead to a claim.
Although you always try to do your best even a minor slip up could lead to a claim which costs your business tens of thousands of pounds.
Why do I need professional indemnity cover?
If you have clients that are dependent on your business then professional indemnity cover is there to protect you. If you or one of your employees makes a mistake that leaves the client out of pocket, the cost of defending your business could be very high, so protecting yourself against this risk is essential.
Levels of Cover
The cover you choose will depend on the type of business you run – your insurance will help you to identify the risks to your particular business and a policy will be tailored to your individual needs.
Keeping the costs down
Additional business insurance may seem like an unnecessary expense but when you consider the costs that you could potentially face if someone were to claim against you, then it’d be wise to consider taking out a policy which will protect you in these circumstances.
By comparing quotes from a number of different providers, you’ll be able to choose the right level of cover for you at a price to suit.