Any business that interacts with clients, customers, and other members of the public should consider public liability insurance. If a client suffers a slip-and-fall injury at your workplace, or if you or your employee damages a customer’s property, it could lead to expensive medical or repair costs, or even a lawsuit.
What do I need public liability insurance for?
Public liability insurance is there to protect you if someone is injured (or their property is damaged) and your business is faced with a compensation claim as a result It can cover you at your business premises and also when you’re working at client sites or in public.
Is public liability required?
Do I need public liability insurance? You’re not legally required to have public liability insurance, but if you’re a business owner the chances are you’ll need it Public liability insurance covers your costs if someone else sues your business – and without cover, unexpected legal costs could bankrupt your business.
What happens if you don’t have public liability?
If you have no Public Liability Insurance in place and you must payout in the event of a claim will mean that all compensation comes out of your business’ bank account and directly from your bottom line Having insurance in place gives you financial protection in the event of an accident happening.
Does every business need public liability insurance?
Is Public Liability a legal requirement? Public Liability insurance is not a requirement by law , but many clients will insist that you’re covered for public liability before allowing you to begin work. Some trade associations will not allow you to register with them unless you have a valid liability policy.
Do I need public liability insurance as a sole trader?
Yes. The need for public liability insurance is not determined by your turnover; it depends on whether you come into contact with the public However, many insurance providers will consider your turnover when calculating your insurance premium.
Can you operate a business without public liability insurance?
Public liability insurance is not a legal requirement However, having a policy will place you in a stronger position if a claim is brought against you. It may even save your business.
Do I need public liability insurance if I am self-employed?
Do self-employed and sole traders need public liability insurance? Public liability insurance is not a legal requirement But if your business involves interactions with the public, you may need this type of cover. That’s regardless of the size of your business and whether you work alone.
Does a limited company have to have public liability insurance?
Whilst it is not a legal requirement for you to have this , if you do have people coming to your premises for meetings etc, it is strongly recommended that you take out Public Liability Insurance. A simple trip on a step could cost your business thousands in compensation and legal costs.
Do you need insurance to sell balloons?
Insurance The law requires any business to have adequate liability insurance cover , so long before I took on my first job I looked into getting cover. Back in 2002, the best option was to become a member of the trade organisation NABAS (National Association of Balloon Artists & Suppliers).
What’s the difference between public liability and legal liability?
While home insurance covers your property, and contents insurance makes sure your possessions are all taken care of, public liability covers people at your home. Legal liability is designed to cover bodily injuries and deaths that may occur at your home, to people who don’t usually reside there.
Can I trade without insurance?
Trading without valid insurance is a breach of street trading conditions, and could result in your licence being suspended or revoked It is your responsibility to ensure your public liability insurance cover is up to date and the street trading team are given the details of your cover.
What is classed as business use?
Work-related driving that falls under business use includes driving between more than one work location, driving to see clients, running work errands, etc. but not making deliveries or driving paying passengers Does business car insurance cover food delivery? No, ‘business use’ does not cover food delivery.