Why Is Public Liability Insurance Essential?

General public liability insurance is your blanket of protection against financial ruin in the event of a liability lawsuit. Most likely, you’ll find yourself in such a situation one of two ways. First, if a customer gets hurt on your business property you will probably be sued. Second, if you or your employees cause damage to the customer’s property while on or off site you will have to make financial restitution for the damages.

Any kind of customer accident can land you in court. Slip and fall accidents on freshly washed linoleum floors are the most common customer accidents and have ruined many uninsured businesses.

Your policy should also offer legal fee protection in case a customer files a frivolous lawsuit against your company. Your legal fees should be well covered should you need to defend yourself against faulty allegations but you might need to request the coverage you need.

Coverage for you and any employees that you might have should include coverage from liabilities caused by damage. You don’t want to have to pay out of pocket should your newest employee run some heavy machinery into a customer’s car. Most incidents that are the fault of the business or its employees are expenses that can mean hefty damages if you’re not properly covered.

If your business brings you to a customer’s home for any reason you are at an even higher risk for causing damages to property. All it takes is an employee to misjudge the spatial relationship of the driveway and hit something or a plumbing job that goes awry to create a financial hole for your business.

Any business owner without public liability insurance is gambling with their financial future. It really only takes a single bad moment in the midst of all the good moments for there to be a serious accident or incident that can wipe away your financial security. Insurance coverage will help keep it in place.

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