Public Liability Insurance
Looking for a great deal on public liability insurance, we offer instant quotes from a panel of leading insurers in the UK with highly competitive terms on a wide range of businesses, occupations and trades?
Who needs public liability insurance?
All businesses face the threat of legal action being taken against them in respect of injury of damage allegedly caused by them in the operation of their business. If you face such action, you will be faced not only with the costs of any awards that are made against you but also with the prospect of expensive legal costs in mounting a defence to any claim whether the claim has any any substance or otherwise.
What is public liability insurance?
The policy protects you against claims made against you in respect of your legal liability for personal injury and property property damage arising during the course of the operation of your business. As well as meeting the costs of any awards made against you, the policy also pays for the cost of your legal defence in the action, whether you are found to be irresponsible or not.
How much public liability insurance do I need?
Under a public liability policy there is a limit of indemnity that you choose when you take out the policy. This limit is the maximum amount that an insurer will pay out in respect of any one claim under the policy. Under most public liability policies the legal costs are in addition to this level but not always.
The “standard” limits under most policies that are issued are £1M, £2M and £5M, although other levels are available and there is an increasing number of requests for a limits of £10M. The limit you choose is your own decision and should reflect the type of work you are involved in, where you work and your own view of what the maximum level of claim might be under the policy.
Often you will be compelled by contract terms or by local authorities to hold a policy with a higher limit.
How much does public liability insurance cost?
The cost of public liability insurance depends on a few core risk factors; your occupation, how many people are involved in the business, where you undertake your business and whether you have previously had any claims made against you. For smaller businesses and sole traders the premium is often calculated on a per capita basis, this means that the premium is charged per person engaged in the business. Other businesses are rated on a wages and turnover basis or just as a flat premium charge.
How much does it cost to increase the limit of indemnity under a public liability policy?
Using the price for a £1M limit of indemnity as a base it will generally cost around 20% to increase this limit to £2M and a further 25% to increase this to £5M.
What activities does public liability insurance cover me for?
When you apply for an public liability quote, you will provide your occupation or trade, this will form the “Business Description” under the policy. It is vital that this business description accurately reflects the work and activities that you actually undertake. The cover responds to claims arising from the policyholder’s business as described in the business description.
If you have additional occupations you may also include these under your policy. There is sometimes confusion about exactly when and how you should include additional occupations an example may assist. if a general builder undertakes roofing work as part of an overall contract for building works then this falls within the business of a builder and no additional occupation is required. If they undertake work solely engaged to provide roofing services, then this is the role of a roofing contractor and should be included as an additional occupation.
Is there a policy excess on public liability insurance policies?
Most policies will be subject to an excess in respect of claims relating to third party property damage. This is often £250 but may differ depending on the specific policy and your own risk details.
There will not generally be an excess in respect of claims arising from bodily injury claims.
The policy excess is the amount you pay in respect of each and every claim and is your contribution to the claim.
Public liability insurance for unusual occupations and activities
Whilst there are many “standard” trades and business activities that can be catered for immediately, there are equally a number of occupations and businesses that do not lend themselves to instant quotes, maybe as a result of activities associated with the occupation or maybe because the trade or activity is new or unusual.
We have an exceptionally good record at helping out with these cases. We are able to offer terms to more than 99% of all risks that are presented to us. We have a wide range of facilities, including our own “in-house” underwriting team that will provide you with a fast turnaround and a highly competitive quote.
Does public liability include product liability insurance?
Product liability insurance is in essence a different type of insurance to public liability, it is however generally insured as an additional section or extension of the public liability insurance policy. In many cases the cover may be included automaticallly where it is a logical requirement but you should check each quote carefully if you require the cover. more on product liability insurance
How do I buy public liability insurance?
You can apply on-line for instant quotes for a wide range of occupations or if you prefer you can call us direct to speak to a specialist public liability insurance broker.