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Importance of Public Liability Insurance for Small Businesses


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Small businesses are more prone to risks of large financial liability. These may come in the form of litigation for not meeting the standards in the product/service as promised; employees’ claim compensation for the bodily injury they sustain, or a case of large financial claim against you by people who are injured, while you were carrying your business.

As a small business owner, it is advisable for you to purchase a cover that meets your business’ requirements optimally, regardless of whether you are experienced or a novice.

Essential coverage for small businesses
Public liability protects you and your business from the claims of financial liability. Public liability insurance (PLI) covers risks of liability that come from the public while carrying out business. It covers bodily injury to the third party and damage to their property. It covers mainly general liability, professional liability and workers’ compensation.

General liability
Small businesses face the risk of general liability. This includes claim of compensation by third parties for bodily injury or property damage of a third party during business operations.

Professional liability
PLI protects you and your business against the risks of claim for financial compensation from your clients. Such cases may arise, if the client is not satisfied by the service you provided as a matter of your profession; or the client might have suffered financial loss or bodily injury or damage to his property because of errors you committed in the service.

Workers’ compensation
Workers’ compensation protects your business from financial liabilities because of injury to employees caused during operation of your business, as a result of negligence or error. It gives the aggrieved employee the necessary compensation for the expenses involved in hospitalization and medication in the event of illness or an injury. It also compensates for the lost wages that the employee could earn had he been healthy during the period.

Covers legal fees and costs
Public liability involves litigation by third parties against your business. To face the litigation and attend the court for proceedings involves not only anxiety but also considerable expenses.

This insurance protects you and your business from all sorts of such liabilities. You need not attend the court proceedings, rest assured, once you have an optimal cover of PLI.

Research to avail best deals from a reputed insurance broker
Once decided to purchase the insurance, research thoroughly on the Internet. Find a reputed brokerage agency. Brokerage firms have professionally trained, knowledgeable, efficient, fast and friendly personnel. You can get from reputed brokerage firms a cover customized to the needs of your small business.

PLI protects you by paying for unexpected claims and reduces your financial burden. Thus, it financially protects small businesses from liabilities.

Keystone Insurance Group is Ireland’s premier supplier of public liability insurance and business insurance solutions to Irish industry. We offer a broad range of insurance products for hospitality business including restaurant insurance and hotel insurance . Our experienced and professional team quickly arranges quotes for all classes of business insurance.


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