A common misconception about public liability insurance, is that it is a legal requirement. Whilst this is untrue, it’s no lie that no business can do without the protection that public liability insurance offers.

Sometimes an accident is inevitable. You can defend against it, put every fail safe possible in place, but if something happens to a member of the public thanks to human error, what can you do? Public liability protects your business against any unwanted personal injury claims.

One of the most common accidents is a slip on a wet floor. If your staff fails to place a wet floor sign, then you’re liable for the customer’s injury. You could end up being on the receiving end of a lawsuit.

For a larger business, the cost of a lawsuit would be a PR nightmare, but probably wouldn’t disrupt a business. For a small or medium sized business however, a lawsuit could cause some serious financial problems that could end up ruining your business.

Public Liability insurance acts like a safety net, giving business owners peace of mind. Should an accident take place, you can be safe in the knowledge that your business is protected from the cost of expenses and medical treatment for the concerned parties as well as cover for the cost of the legal fees.

Recent changes made by the government means that the limit for small personal injury claims is now &5000 which is a big jump from the original limit of &1000. Small change to a large company but a month or two worth of revenue for a small/medium business. Public liability insurance can protect you against these types of damages and keep your business running.

If a company did not have the funds to cover the full cost of the damages, then their assets would be used to settle the cost. You could see business essential assets removed from your possession, leaving you unable to continue operating.

Here at West Craven, we understand that keeping on top of your business’ profits is your top priority. Public liability offers a much needed safety net that we believe no business should be without. We will find you the best public liability policy for a price that suits your business.