Public liability insurance should be taken out under the law for anyone who opens their business property to the public. Almost any business if opened to the public did not have an insurance policy to cover them, then they would probably be in lawsuits, no matter what size the business is, claims of public liability can run into millions. Even if you run a home-based business or own a shop, and your customers visit your business sometimes or frequent, you might consider taking out a public liability insurance policy.
Public liability insurance has become popular with an increasing number of liability lawsuits like negligence or damages being filed every year. For this reason, this insurance has become one of the most important business insurance policies.
Public liability insurance protects your business from a huge financial loss caused by injury or an accident to a member of the public at your business premises resulting from your negligence. If you run a small enterprise whether as a sole trader or by employing a handful of staff, you must have the public liability insurance coverage in your small business insurance. It covers all the damages, injuries, illness caused to any member of the public but except the members employed by you.
But if you don’t have employees and you are self-employed business, then this cover is most suitable for you as this cover is not particularly expensive, and you can make significant savings by buying a high premium general insurance policy for your business, which typically includes office insurance and employer’s liability insurance, as well as public liability insurance cover.