What does Public Liability Cover?
Public Liability Insurance can cover your legal defence costs if a client makes a claim against you, and the costs if you’re found to be at fault. This cover or ‘Indemnity limit’ can typically vary from £1 million up to £10 million. We’ll discuss the risks your business is exposed to, and any contractual clauses set by your clients, to help you choose the right level of cover.
Your public liability policy can also provide ‘run-off insurance’. This covers you if a claim is made against your business in the future, when your business no longer operates.
Specialist Public Liability Insurance
Some industry associations and professional bodies make Public Liability Insurance mandatory. We can arrange tailored policies for a wide range of businesses including:
- Accountants insurance
- Architects insurance
- Many more – give us a call!
Public Liability optional extras
There are optional extras you can include*:
Personal accident insurance covers the injury or death of anyone on your policy, whether at work or elsewhere. It covers loss of earnings and medical costs.
Employers liability insurance
If you employ anyone else as part of your business, you’re legally obliged to have employers liability (EL) insurance, unless this person is a family member.
Should an employee be injured during their work for you, your employers’ liability insurance will cover compensation and legal costs.
If you have employees or contractors, this needs to be noted on your insurance policy. This is in case they do something that means your client makes a claim against your business.
Consequential loss is sometimes included, although it often comes with exclusions. This covers you for any financial losses claimed by your client as an indirect result of your mistake or negligence.
*Limitations and exclusions apply to all these add-ons.
Who needs Public Liability Insurance?
Public Liability Insurance (also known as: public indemnity insurance) protects you if a client claims you were negligent, gave the wrong training or advice, or made a mistake that caused them a financial loss. It helps to cover you from the associated legal and compensation costs. You could be freelance or employed by a company. The type of people that could need this are:
- Anyone handling intellectual property
- Anyone handling client data
- Anyone offering professional advice
Why use GoSkippy 4 Business?
We are an insurance broker set up to bring you first class insurance at the most competitive prices we can find. We search a range of market-leading insurers to find you the best deal.