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How does public liability insurance work and protect me?

Date Added: November 18, 2011 10:31:34 AM
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How does public liability insurance work and protect me?

What is public liability insurance? It is a risk mitigation policy that where the public visits a business whether at home, shop, store, factory or warehouse, that the owner protect any harm coming to the visitors or damage to other property which they do not own. Most businesses will be advised to have public liability insurance. The cover for
public liability insurance should include for:

•    Any fees involved and their related expenses
•    Claims resulting from compensation
•    Protection against harm or injuries to the public

Most businesses will be advised to have the following insurance policies:

•    Car or vehicle insurance
•    Employer’s liability insurance
•    Legal expenses cover
•    Professional liability insurance
•    Public liability insurance

The above insurance policies will reduce you risks and enable you to start your business with a certain degree of comfort. If you don’t have public liability insurance, you may be exposing yourself to a high agree of risk and possible bankruptcy. Claims for injuries to the public and third party can be high and financial losses suffered by the business owners will be high also.

In our claims culture, broken limits and accidental falls may end up in the courts. There are many high street solicitors and claims management companies who will sue you for compensation. Don’t expose your business to high financial payouts. You may expose your business to high financial payouts. You may even loose your home or car to pay for the claim if you are not insured.

Most public liability insurance policies are standard but you will need to check the cover, the excess and the claims process. If there are any errors have them corrected.

Store the documents in a safe place.

Adjust the excess to see if the premiums result in any additional savings.

Read the public liability insurance term and conditions carefully and store the documents in an easy to find place.
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