I’m a small business owner – why do I need Public Liability insurance?

Whether you work by yourself or employ a team of people, Public Liability insurance is essential if you’re a small business owner. Put simply, Public Liability insurance protects you and your business from compensation claims from clients, customers or members of the public.

Now, we understand you’ve spent a lot of time (and no doubt money) getting your company off the ground, so getting Public Liability insurance might seem like an added hassle – but it doesn’t have to be.

Here is a simple overview of why small business owners need Public Liability insurance and how they can get covered.

Injury to another person

In many industries in which small business owners operate, there is a risk of causing bodily injury to another person.

Let’s take electricians as an example – if you work with electricity, one slight mishap could seriously injure someone. It could be that wiring you’ve installed causes an electrical fire or an electric shock, resulting in a potentially costly compensation claim being made against you by a customer.

Likewise, if you’re a builder, you’ll know only too well the dangers of your trade. For all the precautionary measures you take, there’s always the chance of something going wrong; whether it’s collapsed scaffolding or falling bricks injuring a passer-by, or a dropped tool or piece of equipment hitting a client.

Even if you work in a clerical, home-based job, there is still a risk of injury. You could invite a client to your home office, they could trip or slip on something and hurt themselves, and you could be held responsible.

All of these examples are why you need Public Liability insurance. This protects your legal liability and covers your potential legal fees and expenses if a claim is made against you or your business for third party injury.

Third party property damage

There are more risks to your business than just injury – property damage is another common event you need to prepare for.

Let’s say you’re a builder, and your ladder was to fall onto a vehicle, or you accidentally brought someone’s house down by removing a lintel without the correct support. The resulting costs and legal fees could bankrupt your business.

Another industry in which property damage is commonplace is plumbing. When you’re working with water, gas and heat across different applications – from private dwellings to commercial sites – a number of things could go wrong.

For instance, a pipe you’ve fitted could burst, causing water to flood a building and leaving you facing a compensation claim. Or a sink tap you’ve fitted in someone’s bathroom could leak and cause damage to the room underneath.

Should any of these things happen and you or one of your contractors are held responsible, Public Liability insurance covers your compensation costs and legal expenses for any accidental injury or accidental damage to property, caused by your business.

Our Public Liability cover

At Ripe Insurance for Small Business, we offer Public Liability insurance up to £1m, £2m or £5m, depending on the size and nature of your business.

Our quick and easy quote process sets us apart from other insurers – you can build your own Public Liability insurance policy in minutes and our Lowest Price Guarantee means you can be sure you’re not paying over the odds.

Get an instant online quote to get your Public Liability insurance sorted today.