Do you own a successful business? Here is why you need a public liability insurance.

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If you are an entrepreneur just starting up a business, or an established business owner, you face the risk of being accused by a member of public of harming his/her through your business practice, service, or product. The harm or damage that can be claimed can be of body, property, or both. Just imagine getting involved in such claim, draining you of your resources, energy, and business focus – too daunting, right?

In such scenarios, public liability insurance would come to your rescue.

What is public liability insurance?

It protects you from claims of damage to health & body, property, or even death, made by public members, as a result of you running a business in a certain way or providing certain services and/or products.

Why do you need public liability insurance?

Anyone can sue your business and hold it liable for reasons such as – slipping on your business premise floor, denting the car by a trolley run by your employee on the floor, or even for damaging their fence while paying a visit to your customers! If you are not covered by an appropriate policy, the legal process and the cost involved, would be too taxing. Immaterial of the size of your business, a public liability insurance would protect you from such claims and compensations required of you.

Is it a must for all businesses to own public liability insurance?

No, it is not mandatory to have public liability insurance. However, owning one would do more good, ensuring you are able to focus on your business processes, enhancing customer experience, and achieve superior product and/or service quality, without the concern of public liability haunting you at the back of your mind.