Last updated on April 13th, 2015 at 02:27 pm
As a small business here in the UK you may wonder why you would need Public Liability insurance (a form of business insurance that is recommended here in the UK if you run a business where members of the public come to your premises or you go to their premises).
Let me give you an example that shows why you should seriously think about taking out public liability insurance and the costs that might be involved if you decide to “save money” by not taking it out.
My mother is having some windows replaced in her home, she is using a local firm that was recommended to her by neighbours and friends at the church that she attends. Last Thursday the workman arrived as normal and put down a plastic dust sheet to protect the floor while he did some work on the porch. Shortly afterwards the postman knocked with a letter that mum needed to sign for. Mum opened the door and slipped on the plastic dustsheet that it seems had not been stuck to the floor. The next thing we knew was that mum was being taken to hospital because she had (we thought) either sprained her ankle or torn a ligament – when she got to the local A&E it was discovered that she had actually broken her ankle badly enough that it needed an operation to put pins into it. This means that mum will not be able to walk for several weeks (at least), that she will be in hospital and a convalescence home for a while as she lives on her own so would be unable to cope and get to physio twice a day and that other members of the family have incurred unexpected costs in traveling to the hospital, attending meetings with medical professionals, social workers etc.
Now then, if you think about the eventual cost to the company that employed the worker these could include :-
Given that there are firms of solicitors that will act for people with claims on an no-win, no-claim basis these costs could all mount up and if you are not insured these could even be enough to put your firm out of business.
One leading provider of public liability insurance here in the UK is the Bluefin Insurance Group, this firm of UK wide business insurance brokers have an in-depth knowledge of a wide range of commercial sectors and can often provide quotes for public liability insurance that is related to the needs of your industry sector rather than be a one-size fits all insurance policy that may not be suitable for your business.