Insurance matters

SIX REASONS WHY YOU NEED PUBLIC LIABILITY INSURANCE

Christopher Bates, Divisional Director, Corporate and Commercial Division, UIB Group.

We all try to be safety conscious, but unfortunately and often unavoidably, accidents do happen that can result in eye watering compensation claims. This is where public liability insurance is essential for any business as it will help and also take away unnecessary worries. Ultimately, it’s there to help protect you if someone makes an injury claim against you or your business.

To help explain how public liability is right for KBB installation and retail businesses, we’ve highlighted six areas that could be at risk and how public liability insurance will benefit you.

Do you work in other people’s properties?

Public liability insurance covers your business against the costs of legal action and compensation claims 

if a third party is injured or their property is damaged accidentally whilst you’re carrying out work at their place of business or their home. For example, if you own a kitchen installation company and a client’s tiled floor is damaged as a result of your installation (such as dropping a hammer), subject to this incident being purely accidental, then you would be covered for any damage caused.

Do you use special tools or processes?

Everyday tools might be safe in trained hands, but an accident can have serious consequences. Whether it’s accidentally dropping a hammer on a client’s floor or a customer tripping over a mislaid tool, small accidents could result in big damage claims or even legal action. Public liability insurance protects you against compensation costs and ensures your legal costs are covered too. Although you are extremely careful to ensure that your work and products are as safe as possible, it’s sensible to consider the risk of injury if the fruits of your labour end up accidentally harming others. Public liability insurance could protect you in the result a member of the public makes a claim against your business. For example, if you are a bathroom installer, in the unlikely event that a customer inadvertently contracts legionella from a shower installation, public liability insurance can shield your business against compensation payments and legal costs.

Are your premises open to the public?

Whether it’s a customer slipping in your showroom, tripping over a display or cutting themselves on a sharp edge, when your

business is open to the public, you’re open to the possibility of accidents happening. Public liability insurance protects against the compensation costs linked to members of the public accidentally injuring themselves when in your premises.

Do you employ staff?

If you’re employing staff, you should already have employers’ liability insurance as it is a legal requirement, but it’s worth understanding that you’re not just responsible for the safety of your staff, you’re responsible for their actions too! Therefore if an employee accidentally causes injury or damages to the property of a member of the public, it’s your business that could face compensation claims. Although public liability insurance isn’t a legal requirement, larger clients and professional bodies like the UK Government will expect you to have it. This is often the case for tradespeople working on-site for clients, and when you’re contracted by local government bodies like councils, it’s hardly surprising when the average settlement on a damages claim is £13,500.

As we all know, accidents do happen but public liability insurance will provide you with peace of mind knowing that you and your business is covered should the worst ever happen.

UIB Is the only insurance broker recommended by the BiKBBI and can be contacted via www.uibdirect.co.uk