Public Liability Insurance is a must-have, not only for a large or a small business, but also for a regular homeowner. Public Liability Insurance is an insurance, which will protect you from having to pay legal and medical costs in the case of someone getting injured by an accident on your premises, including covering the ongoing disability payments. It will also protect you from paying for someone’s property getting damaged, when located on your property.
The injuries, covered by Public Liability Insurance, include: a person falling on your property due to a slippery or an unmaintained floor, an object (e.g., an old branch of a tree) falling on a person on your premises, a loose item falling from the roof onto your visitor’s car, etc.
Public Liability Insurance is mandatory in some states in the USA and some other countries, while it is not mandatory in other US states and other foreign countries.
Nevertheless, it is better to be safe than sorry. It may happen, that no liability insurance coverage could put a small company out of business, or could eat up all the assets that a particular homeowner has worked for, in the event of an accident on their premises, while not covered by this type of insurance.
The most common places with a high risk of accidents are theaters, shopping centers, sporting venues, hotels, etc., i.e. places where a lot of people gather at the same time. The chances of accidents especially increase, if alcohol is consumed in such public places. Note, that Public Liability Insurance is not the same as employers liability insurance. Public Liability Insurance will not cover you in the event that your employees get injured.
There is also a branch of public liability insurance, called product liability insurance. This type of insurance will cover you in case someone was accidentally injured while using your product.
Public liability insurance offers different amounts of coverage and premium costs. First, you would need to find out, how much insurance coverage you need. Is there anything special that you may need to be covered? Sometimes it is better to get extra coverage, especially if several people get injured on your property at the same time, the costs will quickly add up.
The cost of a premium will pay off in the case of an accident on your property.
Liability insurance cost will largely depend on the size of your property, the type of business, etc.
It is still a very good idea to maintain your property to avoid the so-called “deliberate negligence”. Always try to minimize any possible risks to the public while they are on your property, whether it’s your business or your home property. In the case it can be proved, that you deliberately did not secure your property, you may not be eligible for insurance coverage.
The premium costs vary a lot from one insurer to another. This is due to that the competition is extremely fierce in the insurance field. Therefore, do locate several insurers, get insurance coverage quotes, and compare their prices.
Public liability insurance will protect you if you get sued by any member of the public in the event that this person or their property was injured or damaged, while being on your premises. It will protect you from going broke, and protect you from incurring high legal fees and a huge compensation payment using your own assets.
The injuries, covered by Public Liability Insurance, include: a person falling on your property due to a slippery or an unmaintained floor, an object (e.g., an old branch of a tree) falling on a person on your premises, a loose item falling from the roof onto your visitor’s car, etc.
Public Liability Insurance is mandatory in some states in the USA and some other countries, while it is not mandatory in other US states and other foreign countries.
Nevertheless, it is better to be safe than sorry. It may happen, that no liability insurance coverage could put a small company out of business, or could eat up all the assets that a particular homeowner has worked for, in the event of an accident on their premises, while not covered by this type of insurance.
The most common places with a high risk of accidents are theaters, shopping centers, sporting venues, hotels, etc., i.e. places where a lot of people gather at the same time. The chances of accidents especially increase, if alcohol is consumed in such public places. Note, that Public Liability Insurance is not the same as employers liability insurance. Public Liability Insurance will not cover you in the event that your employees get injured.
There is also a branch of public liability insurance, called product liability insurance. This type of insurance will cover you in case someone was accidentally injured while using your product.
Public liability insurance offers different amounts of coverage and premium costs. First, you would need to find out, how much insurance coverage you need. Is there anything special that you may need to be covered? Sometimes it is better to get extra coverage, especially if several people get injured on your property at the same time, the costs will quickly add up.
The cost of a premium will pay off in the case of an accident on your property.
Liability insurance cost will largely depend on the size of your property, the type of business, etc.
It is still a very good idea to maintain your property to avoid the so-called “deliberate negligence”. Always try to minimize any possible risks to the public while they are on your property, whether it’s your business or your home property. In the case it can be proved, that you deliberately did not secure your property, you may not be eligible for insurance coverage.
The premium costs vary a lot from one insurer to another. This is due to that the competition is extremely fierce in the insurance field. Therefore, do locate several insurers, get insurance coverage quotes, and compare their prices.
Public liability insurance will protect you if you get sued by any member of the public in the event that this person or their property was injured or damaged, while being on your premises. It will protect you from going broke, and protect you from incurring high legal fees and a huge compensation payment using your own assets.
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