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Many companies have to deal with the public on a regular basis and the vast majority of legitimate firms will have some form of public liability in place. If your business regularly comes into contact with members of the public then having public liability insurance in place is highly recommended.
Public liability insurance will protect your business against a number of damages, such as injury or illness, incurred by members of the public or even damages to their property.
A comprehensive public liability policy not only covers the costs of damages but can also cover the costs of any legal fees incurred whilst defending the case. With these costs running up to thousands of pounds it is reassuring to know that this type of protection can offer up to £5million of cover.
Public liability is not a legal requirement; however, it’s certainly worth bearing in mind that many firms and private individuals will not work with a company that doesn’t have adequate liability cover in place.
Employers’ liability insurance is another form of protection a firm should obtain, especially if it hires or is looking to hire any employees. Failing to produce an employers’ liability document when requested by the Health and Safety Executive could result in a fine of up to £2,500 per day, for every day that your company doesn’t have one.
Employers’ liability works exactly like public liability except, rather than covering the business against claims made by the public; it protects your firm from damages claims made by an existing employee or ex-employee. Employers’ liability can also cover the costs of legal fees as well, taking some of the burden out of paying out for a potentially costly and length claims process.
Let’s face facts; it’s not that easy to find the right cover at the right price which is why comparison websites and online brokers could be doing the leg-work for you. Websites such as Constructaquote.com will always try to find you the best cover for your business at a price to suit you and your company.
