Public Liability Certificate- What you need to know?

It is insurance for businesses of any size, irrespective of any industry. Public Liability Insurance aims to cover the legal claims made by a client or someone for property damage, losses incurred, injuries, and death because of your business activities. When the claim becomes a legal matter, this type of insurance will protect business owners against legal claims and will cover the cost of the expenses and compensation that needs to be paid by the Business owner. Instances such as damaging a client's mobile phone or laptop during a meeting by spilling a mug of tea over it can also be compensated with the help of Public Liability Insurance. 

What is a Public Liability Insurance Certificate?

A Public Liability Insurance certificate is evidence of cover and summarises the crucial information of your open policy. Information such as the details & activities of the business, the insurance company, the policy number, and the period of the limit will be mentioned in the certificate. Significant cover exclusions (the territorial boundary of the cover) and, most importantly, the indemnity limit, which is the most to be paid out by the insurer in the event of a claim, are other comprehensive information that will be displayed on a public liability insurance certificate. 

    Depending on the business's nature and the firm's size, the cost of public liability insurance can vary. The extent of the amount to be covered can also vary based on details like the level of risk involved in the business, the firm size, public interaction required for the company or industry, the nature of contracts, and your claims history. 

Who needs to apply for Public Liability Insurance? Is it a legal requirement? 

Public Liability Insurance is not mandatory. It is not a legal requirement. However, it can benefit you based on your nature of business. All you have to understand is that your business is covered when it has to pay for legal claims and successful settlements made against your business. Based on the type of trade and profession, you can purchase Public Liability Insurance as a standalone product or with other types of insurance. You can seek additional help about your cover amount and also tailor additional protections for your Business Equipment and Legal proceedings. Still, the extra features vary from one insurer to another. From roofers to hairdressers, manufacturers to retailers, event organisers to licensed traders, various occupations can take out public liability insurance. 

What is included in a Public Liability Insurance cover?

 It covers Compensation claims for injuries that occur on your property or to a third party or the property of the third party in your place or elsewhere. In the event a claim is made against your business, the Public Liability Insurance will also cover the cost of legal proceedings. In cases of damage caused due to your work, if you are a plumber or an electrician, it will also cover the repairing cost. You are covered if a visitor falls down the stairs at your office, is severely injured, and subsequently sues your business. If the National Health Service makes a claim against you for hospital treatment or an ambulance callout, your insurer will cover the compensation. Thus, Public Liability Insurance can ensure a business owner's peace of mind as it will cover several costly claims against unexpected losses and accidents.

What is not included in a Public Liability Insurance cover?

Public Liability Insurance does not protect business premises as Office Insurance covers that. Meanwhile, it does not cover injuries by employees as that would come under Employee Liability Insurance, and losses and injuries due to negligence at work will also be covered by Professional Indemnity Insurance. It also cannot substitute for illness or injuries suffered by a team member, which a Personal Accident Cover will cover.

Pros of having public liability insurance for your business

Although it is not mandatory to have a public liability insurance certificate like an Employer's Liability Insurance Certificate, it can make doing business much more manageable. A Public Liability Insurance certificate can be a document to show to your clients and contractors, increasing the chances of hiring. It can be displayed in your office space as a hard copy or on your website as a digital copy to let your potential clients know you are covered.

When must you produce your Public Liability Insurance Certificate?

If you face legal action and compensation claims due to property damage or injury to your client or visitors at your business premises, you will have to inform the insurance company immediately. You may be asked to produce details evidencing the event, such as photos & other supporting proofs, medical certificates if necessary, and the claim amount. The details of the process may vary from one business to another. However, whenever you make a claim, you will have to pay the first £250 or £500. This amount is called excess. You can discuss this with your insurer while applying for Public Liability Insurance and choose your excess. Therefore you will have to make sure the public liability excess is a payable amount. Once you make a claim, an assessor from the insurance company will accept or reject it after evaluation. You will have to check with the insurer if there are exclusions that will prevent you from claiming Public Liability Insurance. 

Getting Public Liability Insurance with Smart Sure

Excelling in the consumer insurance market and commercial insurance market since 2011, you can contact Smart Sure to get Public Liability Insurance. We help you cover legal action costs and compensation claims against your business.