Apply in minutes
Public liability insurance covers your business for third-party claims for personal injury or property damage caused by the services your organisation provides. Professional indemnity insurance protects your business from compensation claims arising from wrong or misleading information you may have published or provided to a client.
Public liability insurance is a type of business insurance that protects your organisation if someone is injured, or their property is damaged because of the services that you or your business provides. This type of cover, also known as PL or liability insurance, is designed to protect your company against third party claims for injuries or property damage from a customer or client, passer-by, or a visitor to your business premises – including building sites – whether you’re at fault or not.
If your business operations put your organisation in a position where your work could cause a customer, client, supplier or a passing member of the public (even in or on a vehicle) to suffer injury or damage to their personal property, then yes, you need PL to protect your business against the potential of crippling financial claims. Additionally, some customers may demand that you have public liability insurance before doing business with you.
Public liability insurance protects your business from financial loss if someone is injured, or their property is damaged because of the work that you or your business provides.
Professional indemnity insurance – also known as professional liability insurance – covers businesses and individuals that advise clients, help them navigate complex financial or legal affairs, or provide them with vital information that may be published in the media. Professional indemnity (PI) can protect you if a client makes a financial loss because of fault in your work or advice and then makes claim against your business.
If you offer knowledge, skills or advice to clients and customers – either as a self-employed individual or for a company – then yes you do. The potential cost of claims arising from any errors in the services you provide can far outweigh the cost of the policy. Typical cover will range from £1million to £5million, but the amount of cover you need will vary depending on your profession, your clientele, and the type of information and services you provide.
Be aware that some professions are required by their trade bodies or guilds to have professional indemnity insurance in place. This includes:
Additionally, many other types of business expose themselves to claim because their work is published in the media, provides industry-standard guidelines, or has legal and political impact. Businesses and occupations most at risk include:
Important tip: You can be held liable for providing bad or misleading information or services even if you or your organisation provided them for free.
Professional indemnity insurance is designed to cover a range of issues that may arise from the information, skills and services you or your business provides:
Yes. For many UK SMEs, sole traders and the self-employed, having both public liability insurance and professional indemnity cover is essential.
All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t let an accident become a catastrophe for your business. Contact Swoop today to compare top-quality public liability cover from different providers and to discuss all your insurance needs.
Get in touch today to start your business insurance quote
We work with world class partners to help us support businesses with finance