When starting a business, one of the most important things to do is taking out insurance as a protection for both yourself and the enterprise. UK Public liability insurance is a policy that covers business of any size or description. Problems occur when someone that you are doing business with is dissatisfied, either in a way proving the contract unsafe, or an accident occurs to a staff member during delivery, or some other form of disagreement, and results in instituting court proceedings against you and your firm.
A common problem is a person slipping on your premises and then suing for compensation of medical costs and inconvenience. With occurrences such as these, you do not want to find yourself in a position of having to foot the bill. Here, your Public Liability Insurance policy will come to the rescue, covering any injury or damages claim against you.
You may be operating a business from your home. This insurance policy covers you in the same way as if you were operating from business premises. The same arises if you are working at a site of one of your customers and through your negligence an injury caused to one of their personnel, who then brings a case against you.
As an employer with a business, you have a legal obligation to provide insurance to cover you and your personnel, for accidents on the premises as a direct result of a work mishap – this is employer’s liability insurance. However, with an accident happening to members of the public at your workplace, the cover is by aforementioned UK public liability insurance.
If you are only self-employed, then insurance is not compulsory but worth consideration, because if any case is brought against you, you will be responsible for the payment should the court not decide in your favour. This could prove very expensive and could even put you out of pocket to the extent of forcing you into bankruptcy. In the case of being self employed, employers liability insurance is not required but if there is any chance of you ever coming into contact with a third party during the course of your business, public liability insurance really should be a major consideration.
UK Public Liability Insurance is available from Specialist Risks