Despite our best efforts, accidents do happen, and the right insurance can help protect you from the risks of liabilities imposed by lawsuits and other similar claims. If your business employees people, it is a legal requirement to own employers’ liability insurance with cover of at least £5 million. Milestone can provide businesses with public and employers liability insurance, covering you and anyone that works for you against the unexpected.
Public liability indemnifies you against incidents that may give rise to a claim resulting in third party injuries or damages. It is the most common type of insurance taken out by small businesses, but with a range of cover options available, it’s just as well-suited to larger firms.
Employers’ liability insurance covers your legal liability if an employee makes a claim against you or your business.
Combined Liability Insurance consists of a combination of Public Liability, Product Liability and Employers Liability cover, and adequate protection against these liabilities is a specialist area. Together the insurance covers both members of the public and employees.
Is Liability Insurance compulsory?
While public liability insurance is not a legal requirement for some businesses, it should be considered essential if members of the public will be interacting with your company in any way. This means that even home-based businesses should consider public liability insurance if their home office is also used as a meeting place. If your business employs people, it is a legal requirement to own employers’ liability insurance with cover of at least £5 million.
What does Liability Insurance cover, exactly?
You’ll find that your insurance policy covers a vast range of situations, but generally speaking, a public liability insurance policy covers your business if someone is injured in some way by the activities of someone working for your business, or if you damage third party property when carrying out work. Employer’s liability covers your business if an employee is injured in some way by your business activities.
When taking out public or employers liability insurance, you need to tell us what type of business you operate. This is not just for the sake of records, but will help you come to an agreement over the type of policy best suited to you – whether the insurer judges cover up to £1 million to be sufficient for your needs or if a larger policy of around £5 million would be more appropriate in the circumstances.
Don’t assume you will be safe without public liability insurance just because you run a small business, or because you don’t make deliveries. Something as simple as a coffee spill over a client’s computer, or a loose nail causing a customer to trip while visiting your office, could cost you thousands if you’re uninsured.
Our policies can protect your business in the following ways:
- Help you pay your legal fees
- Help you pay compensation costs
- Cover any person working for or in connection with your business.
- Cover claims for injuries or illness as a result of terrorism
- Cover public and employers liability insurance under one policy