Whilst General Liability Insurance is not compulsory for most companies, it is recommended for all businesses. That is because the unpredictable nature of accidents makes them difficult to prevent and the costs of being sued can be astronomically high.
General Liability includes both Public Liability & Products Liability.
Public Liability covers you if an accident or unforeseeable incident causes damage or injury to someone (excluding your employees) where you may be found legally liable to provide compensation. Importantly, Public Liability insurance can help protect your business from the financial risk of liability claims, therefore giving you the certainty you need to trade with confidence.
Product Liability is designed to help protect your business if you are sued because a product you sell, assemble or supply has caused harm to a person or property. Regardless of how stringent your business is, mistakes can occur. Even if you are not at fault, you could risk serious financial loss through legal and court costs if a customer decides to sue you.
General Liability Insurance can cover:
Personal Injury Claims – If somebody is wrongfully injured as a result of your actions or your products, General Liability insurance can cover you for you liability to pay compensation to the claimant.
Property Damage Claims – If property is damaged as a result of your actions or your products, General Liability insurance can cover you for you liability to pay compensation to the claimant.
Whilst policies vary and there are a number of exclusions under General Liability policies some are the key exclusions are as follows:
