Facts About Public-Liability Insurance

By | January 3, 2011

Public-liability insurance is designed to provide the fiscal cover to protect a policyholder from claims which are made by third party in case of injury or death. It also covers the damages which are caused to properties of third parties, because of the business of insured company.

Legal fees or different disbursements are also handled by this insurance policy. These legal fees may be incurred while defending claims which are charged by third party or member of the public. But this insurance policy does not deal with damages, which are done intentionally. Before you purchase the public-liability insurance, you should check public-liability insurance quotations, which are offered by the insurer. There are some factors which effects the premium of the public-liability insurance, such as:

  • Type of business.
  • Level of business’ activity. Turnover and other elements of the business can determine the activity level of the business.
  • Type and amount of cover, your business requires.

Facts about public-liability insurance:

  • The payment of claim is not given to a policyholder or insured, but it is given to the person who has suffered damages or injury as a result of the business of the insured.
  • A policyholder can be protected by the insurance company when a claim’s lawsuit is filed against a policyholder.
  • If your business puts customers in possible risk, then public-liability insurance is compulsory to such businesses.

So, the above are the facts about the public-liability insurance. This information may useful to you to handle your business in proper way, by having public-liability insurance.