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Any business that deals with members of the public needs public liability insurance.
Public liability insurance protects your business in the event someone is physically injured while on your property. It also provides protection if someone's property is damaged by you or your business.
Public liability insurance also covers legal fees and hospital treatment, including ambulance costs.
Premiums are based on the type of business and the activity of the business. Shopping centers, theaters, hotels, sporting venues are among the types of businesses at greatest risk. For establishments where alcohol is consumed, the risk is increased. The higher the risk, the higher the premiums will be.
If a lawsuit is filed and damages are awarded to someone because of such injury or property damage, the insurance carrier will pay the amount awarded. Payments are made to the injured party, not the business that is insured.
There are several types of public liability insurance coverage. Employers are required to carry employers liability insurance, which protects the employer from claims made by employees. If you own properties for rent, landlord liability coverage is available.
Professional indemnity insurance is another type of public liability insurance. Professional indemnity insurance protects professionals from lawsuits relating to things such as breach of contract or slander.
Public liability insurance is not just for larger businesses or corporations. If a sole proprietor or a small business had to pay damages, it could lead to bankruptcy or insolvency.
One of the advantages of having public liability coverage is that should a claim be made against your company, the insurance carrier is required to act in your defense.
As when buying other types of insurance, take some precautions.
1. Get more than one quote.
2. Make sure the quotes provide the same coverage options.
3. Make sure the insurance carrier is reputable. Call the insurance commission in your state to find out if any complaints have been lodged against the carrier.
4. When getting a quote from an insurance agent, try and use agents who represent more than one carrier.
5. Check with your state insurance commission to find out what types of public liability insurance are compulsory in your state. Also find out the minimum amount of coverage required.
6. Check whether policy limits are affected by costs incurred by the carrier in defending you against a claim.
What else can I help you with?
What is public liability insurance and how is it different from general liability insurance?
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
Where can builders get public liability insurance?
Builders can get a public liability insurance from Builders Insurance and Builders Liability Insurance. Both of these organizations will provide builders with online quotes.
What is PLPD?
Public Liability and Property Damage insurance. Bascially liability insurance.
Does direct line insurance offer public liability insurance?
Yes. Direct line insurance does provide public liability insurance, according to their website. Public liability insurance provides protection over claims made by members of the public that have suffered damage from a buisiness.
What is the difference between employers' liability insurance and public liability insurance?
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public liability covers claims against the company by the general public as well as third parties claims.
How would one buy public liability insurance?
You could go about purchasing public liability insurance from webpages such as Money Supermarket. Alternatively, one could try public liability insurance companies such as Hiscox, for example.
What are some of the advantages of having public liability insurance?
Public liability insurance can help event planners protect themselves from cancellation and postponement. By having the right public liability insurance you can protect yourself from losing profits.
What companies offer public liability insurance?
Progressive, Gieco, Nationwide and State Farm offers public liability insurance. A public liability insurance broker may also help you in finding public liabitilty insurance. Prices may vary depending upon the agent and event.
Who are some Public Liability Insurance brokers?
There are many Public Liability Insurance brokers. Some companies that provide this service are 'Hiscox', 'Crowthorne Insurance Services Limited' and 'AXA Insurance'.
How can one get public event liability insurance?
Check with a local insurance agent on where public event liability insurance can be purchased. Many of the more well known insurance companies do not specialize in this type of insurance.
Where can one purchase cheap public liability insurance?
You can purchase cheap public liability insurance from companies such as Direct Line and Simply Business. You can find out more about these companies and their liability insurance policies at their respective websites.
Do landlords have to have public liability insurance?
somtimes
