|
|
With the compensation culture increasing around the world, having public liability insurance is becoming more and more important. If you don't have public liability insurance included in your current building insurance, then now is the time to look at getting better cover. Here is some advice about why you need public liability insurance, and what to look out for:
What is public liability insurance?
Public liability insurance is an insurance policy that protects you from claims that other people might make against you in the event of an accident. If someone damages their property or injures themselves in or around your property or business then public liability insurance will cover you for any compensation claims that might occur. Cover usually ranges from '250,000 up to '1 million.
What are you covered against?
Public liability insurance will insure you against accidents or loss that others might suffer in or around your home or business premises. You are covered against claims from trespassers, as well as injury that might occur to anyone from falling objects or people carrying out repairs. If an accident occurs on your property and someone claims against you, your insurance will help you pay any compensation.
Included in your contents insurance
Some contents or property insurance policies have in-built public liability insurance. You should check with your insurer whether this is the case, and what level of cover you have. Even if the insurance is included, you need to make sure that you are adequately covered for any accidents that might occur.
Premiums
The premiums that you pay depend on the level of coverage you want. If you are simply covered your home, then premiums are likely to be lower than if you are covering a business. However, premiums are relatively cheap for the level of cover that you are afforded, and it is therefore essential for anyone running a business. With compensation claims on the rise it is also a good idea for homeowners to have adequate public liability insurance.
Dangers of not having insurance
If you don't have public liability insurance then you could end up with a massive compensation bill. If you are at fault or negligent and someone makes a claim against you, then you will have to pay the full level of compensation if uninsured. A claim might range from a few hundred pounds to a few million for more serious accidents. If you cannot pay the claim amount then you could lose your home and other possessions in order to pay for the claim.
Requirements
Some businesses are required to have public liability insurance, such as horse riding schools. Any type of business that has some obvious risk to the public will be required to have public liability insurance. Also, many businesses and customers will want proof that you have public liability insurance before they work with you, in case anything should happen and a claim is made. |
| Author: Peter J Kenny |
| |
Author Bio:
Peter Kenny is a writer for creditcards-gb.co.uk. For additional articles and an extensive resource for everything about credit cards, please visit us at Credit Cards and Contents Insurance Visit www.creditcards-gb.co.uk |
|
 |
|
| |
Related Articles |
| |
Travel Health Insurance
|
| |
A Short Guide to Buying Life Insurance
|
| |
Erasing index.dat files
|
| |
Types of Computer Software
|
| |
Tire Gauge Accuracy
|
| |
Avangate Sponsors European Shareware Conference (eswc)
|
| |
You Can Save Money On Health Insurance
|
| |
Hyundai Accent: Proving To Be the Best in Its Class
|
| |
How To Buy A New Car Without Being Taken For A Ride
|
| |
Fix-Up Your Computer with Registry Error Cleaner
|
| |
|
|
|
|
| |
|
Car-Share.com Tips To Improve Your Budget & The Environment! If you are having difficulty balanc ... - D. Carter |
| |
|
Like all teenagers, I took drivers education to learn how to drive so I could get my driver's licens ... - Morgan Hamilton |
| |
|
This isn??t old news, but the type of car you buy effects your auto insurance rates. The more expens ... - Brad Stroh |
| |
|
|
| |
|
Electric scooters can be found on a mass of online stores and websites, the thing is though where is ... - Gustav Cronell |
| |
|
Hopefully you will never be involved in an auto accident or need to file an insurance claim. Even th ... - Jennifer |
| |
|
Agricultural insurance or farm insurance saves farmers and those engaging in agri-business from loss ... - Todd Lange |
| |
|
It's important to know the difference between whole verse life insurance before you start to shop.Wh ... - Jessica Farrell |
| |
|
The whole arena of spyware intrusion is extremely fluid with the spyware writers trying to outsmart ... - Jason Frovich |
| |
|
| |
|
|
