| For most UK businesses, public liability insuranceis not | | | | loss suffered by the claimant. The limits offered by |
| compulsory, with the exemption of Riding Schools. If | | | | insurers are normally £1 million, £2 million |
| you work as a tradesmen, constantly working on site | | | | and £5 million. Some insurers will offer more |
| or in someone else's premises then you may be | | | | but this is not the norm. |
| required to arranged the cover in order to satisfy | | | | As a rule of thumb most tradesmen are taking a |
| your main contractor. | | | | £2 million limit these days as this is the |
| If you work alone and you are not working as a sub | | | | standard limit offered by the insurers. However, if |
| contractor then you legally don't need to arrange | | | | you are self employed and doing your own work and |
| cover. However, running a business without public | | | | just need the cover for domestic or small commercial |
| liability insurance could be catastrophic and is not | | | | projects then may decide that £1 million is |
| recommended. | | | | adequate for the risks you face. However, it is the |
| You're a professional landscaping company hired by a | | | | potential to cause life-long injury that will dictate the |
| client. While working on your project, you happen to | | | | limit of indemnity you choose, as this where the |
| knock down a portion of a wall. Your client make you | | | | costs can escalate significantly in the event of a |
| responsible for this. Rather than paying the expenses | | | | tragic accident. |
| out of your own pockets or from your business | | | | When arranging public liability insurance be sure to |
| coffers, you can rely on your PLI. | | | | compare quotes from a range of insurance |
| Limits of Indemnity | | | | companies. The cheapest policy shouldnt always be |
| This is the maximum amount that is paid by the | | | | the one to take, make sure you understand the |
| insurer in the event of a claim. You may be familiar | | | | policy exclusions, excesses and the claims procedure |
| with the term "sum insured" and this is similar. Under | | | | before accepting any quote. An insurance policy is |
| a public liability insurance you are provided with | | | | only useful when you make a claim, so spending |
| indemnity cover, which means that if a claim is made | | | | 5-10% more to get a lower excess or cover to work |
| against you the insurer will seek to make good the | | | | at a greater height may be money well spent. |