YOU ASK:

Can I find cheap public liability insurance?

WE ANSWER:

Cheapness is relative, especially when it comes to commercial liability insurance. Given all the liability risks that business owners are exposed to on a daily basis, you should try and buy the fullest public liability insurance coverage that you can afford to get peace of mind.

There are some tips you can use to find comparatively cheap public liability insurance, while not compromising the quality of the coverage for its price.

Tips for Getting Cheap and Comprehensive Public Liability Insurance

  • Never opt for the cheapest public liability coverage! It is likely to provide only basic liability protection which is not enough to cover all the situations in which you, as a business owner, might be sued and held liable.
  • Shop around! The more public liability insurance options you have, the better. Comparing insurance providers, policy conditions and rates will help you get to the right quote for you at the best price.
  • Make sure you get comprehensive coverage! Including bodily injury and property damage coverage, personal and advertising injury liability, medical expenses coverage, coverage for damage to rented grounds, products liability coverage, premises and operations liability coverage. However, when you feel you don't run the risk of being held liable for losses in certain situations, you shouldn't purchase the respective coverage. Knowing precisely what public liability protection you need and what potential risks you are exposed to, will help you find comprehensive coverage at a good price.
  • Get public liability insurance with high liability limits! Since this is what your insurance provider will pay the claimant in the event that you are sued and determined liable, you would want to have adequate financial protection. Otherwise, you risk getting into a disastrous financial situation and even losing your business.
  • Read the terms and conditions carefully! Make sure you read the fine print, too - it is sometimes more important than the text in the main body of a policy.
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