Insurance is something that every business needs.
Although public liability insurance is not a legal requirement, it is essential to understand that if a claim is made against your business, you will be liable for the sum awarded if you were deemed negligent. The highest personal injury claim awarded in Ireland was just over €32 million. If your business deals with the public, protecting your livelihood from the unexpected makes financial sense.
What Is Public Liability Insurance?
Public liability insurance safeguards your business against financial risk from third party claims should a person or persons be killed, injured or have their property damaged at your premises and you are found to have been negligent.
If this were to happen, this type of insurance would cover you for compensation and legal costs for accidents caused at your business premises and accidents caused away from your premises. Some examples could be:
- The cleaning staff forgot to put the wet floor sign on display for the public to see after cleaning the floors and a member of the public slipped and injured themselves.
- A painter accidentally breaks an antique vase in a house and is sued for its value.
- A visitor trips over carpet in an office reception area and injures their knee. They need surgery and physiotherapy and sue for medical costs.
In any of these cases, your business could be sued. If you have public liability insurance, it will cover the compensation costs and legal fees up to your policy limit. Talk to one of our professionals for a bespoke quote about the necessary limitations for your business.
The Benefits Of Insuring Your Business:
- Protect your clients, suppliers, passers-by, and your business.
- Guarantee to have legal fees, repair of damage, and loss of earnings covered.
- Give your clients confidence that you have them insured should the unexpected happen.
- Prevent your business from going under if you had a claim made against you.
How BMIB Can Protect Your Business
- By providing the amount of cover that suits your business.
- Offering competitive rates in the Irish market to keep costs low.
- Fully-qualified account handlers will provide expert advice at the end of the phone.
Brian Mullins Insurance Brokers has been helping businesses choose the right insurance that meets their needs for over 20 years. Our experienced team will discuss the options available to you and explain in detail our range of policies to help you protect what matters most.
Whether it’s a trip, slip, fall or a severe accident that could significantly impact your bank balance, public liability insurance gives you the peace of mind and protection you need.