If you’re a small business, you may not have any legal obligation to have public liability insurance, but that doesn’t mean you don’t need it. Whether you’re a company director, a small enterprise employing a few members of staff or a sole trader, you’re still liable for damages to a third party.
For self-employed people who work from home it could be even more important. If you work in one of the following occupations, for example:
• Private tutors
• Music teachers
• Masseurs and other therapists
• Dieticians and fitness instructors
Even if you work part-time from home to supplement your main income, clearly occupations, such as these, could leave you exposed to a claim from a client. And, without public liability insurance for small business to protect you, then the full cost of the court case and compensation would have to be paid by you. The legal costs alone could be enough to bankrupt you.
Protect yourself inside and out
If you travel to other premise to carry out work, it’s even more important to have public liability insurance for small business. For example, if you’re a tradesman, such as a plumber, carpenter or electrician. If you’re working in someone else property, for instance, and something goes wrong, resulting in damage to a third party, whether through injury or loss, then you could be in trouble.
Get a reliable insurer
There are other less apparent benefits of taking out public liability insurance for small business. Think of the disruption a claim could have on your business. Taking time away from work to sort out all the details of the case could mean loss of income. A good insurer will take care of all the details for you, so you can get on with running your business. And once the case is finished, they’ll either pay the compensation or refund your legal costs if the case in found in your favour.