Public liability is a type of insurance for businesses of all sizes, across a variety of industries. It covers you if a client or member of the public claims they have been injured, or their property damaged, because of your business activities.
This type of insurance is designed to protect business owners against claims that result in legal proceedings. If a claim does become a legal matter, a policy will cover the cost of these expenses, including any compensation you are required to pay.
Public liability claims can arise from several circumstances, but negligence is the main trigger. A customer might trip on an uneven surface at your premises or a member of the public could injure themselves on a piece of your equipment. It will also cover claims of property damage. For instance, if you accidentally knock over a mug of coffee, damaging a client’s laptop during a meeting, your policy will cover the associated compensation costs.
It’s also important to note that some trading authorities and other organisations might require you to have a certain level of public liability insurance in place. Therefore, a policy doesn’t only protect you from previous mistakes – it can also help you secure new business opportunities.