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When it comes to running a business, there are a lot of things that you need to think about in order to make sure that you are covered. One such thing is public liability insurance. But what is it? What are the benefits of having it? How much does it cost? And why do you need it in the first place? In this post, we will explore all of those questions and more. Keep reading to find out more!
What Is Public Liability Insurance?
Public liability insurance is a type of insurance policy that provides protection for your business against any claims resulting from the actions of you, your employees, and/or customers. It covers both bodily injury and property damage caused by activities related to your business. In other words, it protects you if someone makes a claim against you due to an accident or mistake made in connection with the services you provide.
What Are The Benefits Of Having Public Liability Insurance?
Having public liability insurance can help protect your business from potentially expensive legal fees associated with defending and settling such claims. If you do not have this coverage, then these costs may be coming out of pocket. This coverage also helps protect your reputation should any claims arise as it shows that you are taking proactive measures to protect yourself and your customers.
How Much Does Public Liability Insurance Cost?
The cost of public liability insurance can vary depending on the type of coverage you choose, the amount of coverage needed, and other factors such as the size of your business and the industry you operate in. However, most policies start at $300 per year for basic coverage.
Public liability insurance is a must-have for any business that wants to protect themselves from potential claims arising from accidents or mistakes made related to their services. It can be costly but worth it in the long run to avoid legal fees associated with defending against such claims. Having this type of coverage also shows potential customers that you are taking proactive steps to protect them.