Public Liability Insurance

This insurance protects the business if a customer from the public or a business client were to have an accident in the workplace. It will also cover any events that are put on by the business. If it were to result in personal injury then it will then cover all costs that occur. This will include compensation claimed and also the legal expenses if they were to take you to court.

Although it is not a legal requirement to have this insurance it is a good idea to have it. Especially if the business is very customer based. As the more customers within the business the more likely their is to be an accident. This makes it more likely that their will be a claim against you.

The cost of the premiums can vary massively depending on the type of the business. This is as this will effect the likelihood of an incident occurring. The premiums you will pay are based on a few other factors. These are the number of employees, your history of insurance claims.

Most lenders offer a one million pound cover as standard in order to ensure that you are correctly covered for the worst case scenario.