Anytime a business comes in contact with the public, they are responsible for their customers as well as any members of the public who come onto their business premises. It doesn’t matter if the business is conducted from a shop, office or from home, businesses, or even if you are in the property investment business. You can be liable for any situations that occur. For this reason, any business that does have this sort of contact should have public liability or professional indemnity insurance.
When a customer or member of the public becomes injured on your property, they can opt to make a claim for this injury. Any of the costs associated with this claim can be covered by a public liability insurance policy. There are a lot of different expenses a business may have to pay when an injury occurs. The medical treatment needed for the injury is the financial responsibility of the business. The injured party may also choose to make a claim of negligence against the business. Having public liability insurance will also cover any monies awarded. Legal expenses can also be accrued when dealing with an injury claim. They can be quite expensive. However, having public liability insurance coverage will also provide reimbursement for this.
Businesses are not only liable for injuries that happen to those third parties on their premises, they are also responsible for any damage to their property. Again, damage to property is also subject to possible damage awards. Businesses may also be required to replace the damaged property. Depending upon what it is, it could be rather expensive.
The amount of coverage needed in a public liability insurance policy will vary according to the business. For most smaller businesses, having a public liability insurance policy of £1 million is usually enough. However, for larger businesses or for businesses in a riskier profession, a greater amount of coverage for one’s public liability insurance should be worth more.