Public Liability Insurance is vital for any business owner and protects your business from financial losses arising from a third party sustaining an injury on your premises or if you damage third party property while on business
Public Liability (PL) Insurance is one of many types of commercial insurance that can be taken out a stand alone policy or added to an ‘all-in-one’ business policy. PL cover provides cover for businesses in instances where a third party like a member of the public or a supplier sustains an injury, has their property damaged or is killed while inside your premises due to negligence. It also provides cover should you be liable for any damage caused to third party property outside of your premises.
While it’s not mandatory for a business to have PL cover, it is highly recommended. This is because you would have to foot the bill should you be found negligent following a third party claim. With many settlements exceeding six figures as well as legal costs and related expenses, this could be enough to potentially put you out of business which is why we don’t recommend anyone forgoing PL insurance.
In general, there are two limits to how much PL cover businesses can take out. Depending on the nature of the service carried out, businesses can either avail of cover up to €2.6 million or a higher limit of €6.5 million. These limits also include any legal fees and expenses arising from a claim. If you are unsure how much PL cover your business needs, our specialist commercial team will advise you on the correct level of cover your business should have.
If you need advice (and a good quote!) on PL Insurance, we’ll be glad to help you out! Either talk to one of our team by calling 1890 746 759 or leave us a message for a call back. We’ll make the whole process simple and ensure that your business has the right cover at the right price.