Public liability insurance is financial protection for your business should you be found liable for an injury to a third party or damage to their property as result of carrying out your occupation or business.
This would include any financial losses they had incurred as a direct result of the injury or loss for which you are found liable.
Table of Content
What does public liability insurance cover?
Public liability insurance will usually cover the financial award made to the claimant if you are found liable for their injury, or for their property which was damaged and any financial consequences to them as a direct result of the injury or property damage.
Legal Expenses and Fees
The claimants costs and expenses are also normally but there are sometimes limits specified in the policy as to how much will be paid out.
The legal cost of your defence are also normally covered. While costs are usually covered, awards for damages to a claimant on your policy may not be covered in full – depending on how the policy is set up.
Usually there is a limit of indemnity on the policy, beyond which your insurance will not cover you. This indemnity limit may only be paid once per claim or once per insurance period, depending on your policy.
Although public liability insurance is not a legal requirement, accidents can and do happen and it is strongly recommended that you have this cover in place.
Who offers public liability insurance in Ireland?
How to compare public liability insurance policies?
Generally, public liability insurance is offered as part of a wider business package tailored to the specific needs of your business.
It is wise to be very clear about the nature of your business or specific occupation as your public liability insurance requirements may depend on this, also you may not be covered for carrying out any work or business activities which are not specifically covered in your policy.
The limit of indemnity of your public liability insurance policy will be determined by several factors including the size and nature of your business, the extent of your contact with the general public, and other factors. Limits of indemnity can range from €1.3 million upwards.
Some policies will cover you for carrying out business activities away from your primary location and some will only cover you on your business premises. This will depend on the nature of your business, trade, or profession and on the policy you choose.
The level of the excess on your policy can vary. It may be tempting to take a policy with a high excess to lower your premium, however, be wary as you will typically have to pay this excess each time you need to make a claim.
What are differences from policy to policy that affect how well suited they are to you.
How Compare Insurance Works
We compare all insurance options so you can be sure you’re always getting the best deal.
1. Select Your Product
Simply select the insurance product you need a quote for e.g. life, home or health insurance.
2. Online Quote Form
Fill out one of our simple online assessments with your insurance details.
3. Free Quote Consultation
A qualified financial advisor will call you back for your free insurance quotation.
Who should consider public liability insurance?
Anyone who is involved in a business, trade, or whose occupation involves members of the public, or dealing directly with clients, customers, or visitors to your premises should have public liability insurance.
Public liability insurance is not a legal requirement in Ireland, but it is strongly advised as a costly public liability claim could put you out of business. Even if you are not found to be negligent or liable for injury or property damage, you will still face the cost of defending a claim.
For peace of mind, and to protect you from potentially financially devastating consequences, it is wise to arrange appropriate public, product, and/or employer’s liability cover.
Get a public liability quote today.
To get the best of idea of what is covered and roughly how much this will cost you why not get an obligation free quote today using our quote generator tool.
We look at all of the insurance companies in the marketplace so you don’t have to – some quote generation tools will only give you a quote from a list of companies they work with – we look at all of the products available.
