Think you dont need public liability insurance Think again.
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When it comes to insurance most people think of their car insurance, their home and contents insurance and perhaps their life or health insurance.
Any other type of insurance is a mystery to most people unless they undertake a change of lifestyle. For example, they set up their own business or get a promotion at work and are therefore responsible for making sure their business is insured or they encounter a terrible accident at the hands of a business (in which case they would be the ones making a claim).
Public liability insurance protects businesses and their owners against claims which stem from damage or injury to a person as a result of the business’ activities.
Incredibly, it isn’t against the law for a business not to have public liability insurance, though you may find your business in unable to operate in certain locations without it.
If you are a business owner without this type of insurance you must ask yourself how you would cope if a claim was made against you. That is the essence of insurance; you may never need it, but if you find yourself in a position where you don’t have any, you will probably regret it.
The UK is rapidly following the US in that insurance claims are rising. People are making more claims against businesses – even hospitals – than ever before, making insurance less of an optional choice for the average business owner.
The costs involved of defending yourself against an insurance claim are enormous. And if you think there is no need for you to have liability insurance because you aren’t in danger of anyone making a claim against you, then answer this question: do you have any employees?
If the answer is yes, then you do need liability insurance, because employees are taking their employers to court more now than ever before.
On matters of liability you would be sensible to follow the advice of wise mothers to their children: “It is better to be safe, than sorry”. |
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Author Resource:-
The Article is written by www.insuredrisks.co.uk providing Employee Liability Insurance and Indemnity Insurance Services. Visit http://www.insuredrisks.co.uk for more information on www.insuredrisks.co.uk Products & Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links & this copyright statement must be included. Visit www.insuredrisks.co.uk for more services!
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By :
Ronald Kresten
Submitted
2011-05-03 03:50:49 |
Article From Article Mayhem
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