Protecting your business is important if you work with clients or customers, especially in public spaces. This is a protection against claims of damage as well as injury. It sounds negative, but it’s true. We have to be prepared for unexpected accidents that we have no control of. This is part of running a business. Even though you work with extra caution, there are really accidents that we cannot avoid.

This is the reason why Public Liability Insurance or PLI is very important. This is the foundation of any trade insurance policy. It serves as a protection that your business needs against customers or public claims for any injuries or maybe damage to properties caused by your business. But does our business really need it? If PLI is really important, how much is it gonna cost?

The Affordability of PLI

The cost of PLI or Public Liability Insurance will depend on the nature of your business. The risk factors that your business activities might cause is also another way to determine the price of your insurance. There are insurance providers anywhere you go but each of them will give you a different quote depending on your business type, and possible claims that you have recently made. At a starting price of just £53 annually, Tradesman Saver can provide you with an insurance that is cost-effective even compared to any insurance agencies that you can find on the internet today.

The Coverage of Public Liability Insurance

Your business needs to have a Public Liability Insurance. Though this is not compulsory for all businesses, this will serve as your protection. This is both protection for your business and your clients as well. PLI covers the following cases:

  • Damages and injury claims caused by your business.
  • Protection for accidents while at work like loss or damage to 3rd party property.
  • Cover any legal expenses spent while defending any claim against your business.

How Insurers Calculate the Cost of PLI

            There are a number of factors to consider when an insurer calculates a premium for your business. The factors may include the nature of your business, the industry, where you work, and the scale of your work. Remember that each construction work has different risk levels. The insurer will assess the risk level of your business before you will be given a quote. If your insurer believes that your business is risky, then your premium will be higher. A good example would be a professional electrician and a painter. The risk of a wrong job that an electrician might cause would be higher than a wrong paint job. This means that the electrician would have a higher premium compared to the painter.

Public Liability Insurance is not just another thing that we have to worry when we run our business. This is an initiative that any business owner can take for possible accidents that can happen in the future. As long as you choose the best insurance provider, you are sure that you and your business are in good hands,


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