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What Is Public Liability Insurance (UK)? That’s a question many business owners in the UK are asking, especially restaurateurs. This type of insurance is essential for businesses that deal with the public, and covers you in case someone is injured or their property is damaged while on your premises. But what does it cover, exactly? How much does it cost? And how can you be sure you’re getting the best deal? Keep reading to find out.
1. What Is Public Liability Insurance?
ublic liability insurance is designed to help protect businesses from claims of negligence and any resulting legal costs. It’s a type of professional indemnity insurance that covers the cost of compensation if someone gets injured or their property is damaged as a result of your business activities. This includes everything from accidents caused by customers slipping on wet floors, to damages sustained in car parks or even injuries caused by faulty equipment.
What Is Covered By Public Liability Insurance?
Generally speaking, public liability insurance will cover you for all risks associated with running a business that deals with the public. This includes things like personal injury, third-party property damage, and medical expenses in the event somebody gets hurt while on your premises. It can also include legal costs associated with defending these claims, as well as any damages awarded to the claimant.
How Much Does Public Liability Insurance Cost?
The cost of public liability insurance will depend on a variety of factors such as the size of your business, the level of risk you pose and the type of activities you’re engaging in. Generally speaking, smaller businesses tend to pay lower premiums than larger ones and insurers may also offer discounts for businesses that take certain safety measures or have fewer employees. It’s important to shop around and compare quotes from different providers to find the best deal for your needs.
Public liability insurance is essential for any business that deals with the public, providing invaluable protection against legal costs and potential damages awarded to claimants. Understanding the different types of coverage available and shopping around for the best deal will help you ensure you’re properly covered, while also keeping costs down.