What is Public Liability Insurance?
The definition of Public Liability is when someone is injured or their property is damaged, the person or business responsible may be sued and held legally liable for the injury or property damage. Where legal liability is established, damages will be awarded to the claimant to compensate them for their injury or the damage to their property.Liability insurance is designed to protect your business against these costs.
If your business has employees, it is likely that employers' liability insurance is compulsory. However, there are a few instances where this insurance is not compulsory.
Why would Liability Insurance be right for me?
If you are sole trader, partnership or a limited company you will find that you would require liability cover to be sure that you would be protected personally against any losses that may be incurred due to negligence on your part. This cover applies when you perform a task or a service where financial loss may be sustained as a result of your efforts and this ultimately falls onto the tradesmen/tradeswomen or the service provider.
What do I need to get a competitive Liability insurance quote?
If you are a new start up business or if you are an established business you will have a business model of what exactly your company offers to the public. This information is vital in not only pricing your Insurance policy but also gives a good understanding of what your risk and exposure would be to a potential insurance company. Public & Employers Liability insurance companies generally need details of turnover and wages figures but also how many people you are looking to cover for your company. The more information you give the better the policy will suit your requirements. Companies that offer more than one service can still get cover for all that they require and individual policies can be tailored to your needs.
Who can obtain Liability Insurance?
As it is stated above anyone who offers a service or provides a product can obtain sorts of liability cover and although some elements may not be compulsory it is highly recommended that you cover your business to take the burden and the costs away from yourselves for any claim that may arise against your business. A full list of occupations can be provided on request but for more complex or niche occupations or for a free no obligation liability quotation please call on 01606 48521 or email info@crs-consultants.com.
What types of cover can I get for my Public Liability insurance quote?
Public Liability – This product can general offer levels of cover starting at £1million cover up to £10million.
Employers Liability – This product is vital if you employ any other person and cover starts at £10million.
Product Liability – This product works in conjunction with your liability and so cover starts at £1million and up to £10million.
Combined Liability – This combines the above 3 products but does have an element of plant and tools cover with no minimums and maximums levels.
If you require any differing cover levels, this is very much possible but a full detailed fact find would be needed prior to obtaining quotations.
How long should a Liability quotation process take?
This all depends on what covers you are looking for and what areas your business operates in. For most policies we can return prices the same day but any more complex takes time to ascertain the correct insurance policy for the customers needs.
CRS Consultants have a dedicated Commercial Insurance team who are able to provide quotations for all types of professions. Please contact us on 01606 48521 or email liability@crs-consultants.com
Why Choose the Insurance Provider CRS Consultants?
CRS Consultants Ltd have built up an enviable reputation of offering high quality affordable products and are developing areas in which we feel we can go that extra mile for our customers. Our constant investment in our quality staff keeps us ahead of our competitors and ensuring that we are fully updated with any regulation changes for all types of trades means you will generally speak to a specialist in your area of expertise to marry up your proposal.
The time taken by our dedicated commercial team will assure you that no matter what you are looking for in terms of your business needs an affordable solution can be attained.