Why have liability insurance ?

As part of the day to day running of your business you are at risk from certain factors that may arise unexpectedly. You need to be prepared for the costs involved in dealing with such occurrences.

If someone is injured inside your business premises then you may be at risk of legal claims against you. If the claimant pursues their case against you and it goes to court then you may be expected to pay damages to the claimant. You will be required by law to pay the medical costs for any treatment that they needed, as the NHS will recover these costs from you. You will also be expected to pay the legal expenses and costs for both your own costs and those of the claimant should they win their case against you.

If property, a vehicle or any goods has been damaged then you will have to pay the costs of reimbursement as well as compensation. Not all business is able to find these costs as quickly as is required by them to do so by law. By having liability insurance you are protecting your business in advance of this happening. You may do everything in your power to prevent any injury to another person or damage to property but you may never fully rule out this risk altogether. Therefore it is crucial that you safeguard your finances and protect your business with liability insurance.

You will benefit from legal advice, legal costs and representation. Liability insurance is easy to set up and once you have this in place you can rest assured that you have done everything in your power to protect your assets.