What is Public Liability insurance?
Provides the insured with an indemnity (protection) up to a selected indemnity limit (plus legal costs) for third party injury or damage which may be caused whilst conducting your business and for which you are legally liable.
Indemnity limits of £lm, £2m and £5m are readily available. £10m can be arranged if required. When selecting an indemnity limit do not just base it on the type of premises worked on. Substantial claims can arise from injury, particularly where long term care is involved.
Whilst you do not have to pay an excess in respect of injury claims you will have an excess in respect of property damage. In the main, this will range from £100 to £500 depending on insurer and your trade. Higher excess may apply for claims arising out of the use of heat or damage to underground services.
For a claim in respect of damage to underground services to be accepted by your insurer you must be able to prove that you have checked with the utility companies to establish the whereabouts of their pipes and cables.
Cover extents to include Products Liability for claims arising out of the products you have installed. You are not insured for the replacing of faulty items, only any injury or damage that the faulty item may cause.
Points to consider
Do not under estimate the limit of indemnity required. If you do any work for local authorities or utility companies they may insist your Public Liability indemnity limit is not less than £5,000,000 and in some cases may insist on £10,000,000
When comparing our quotes with other insurers check the excesses as some insurers may impose substantially higher excesses in respect of claims arising out of use of heat or damage to underground services – £1,500 or £2,500 may be imposed
Ensure the policy provides cover for all business activities, the types of premises you work on and that the height limit is sufficient
If bona fide sub-contractors (supply & fix) are used you must ensure that they have indemnity limits on their own policies not less than those on your policy and you must keep a record of their insurance details so that you can check ongoing cover is in force
Should you have further questions about what is Public Liability Insurance speak to one of experienced business insurance staff who can expand on what is Public Liability insurance, on 01480 402 460.
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