Why You May Need A Public Liability Insurance

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We live in times when a big part of world’s GDP comprises of insurance premium payments. This comes about as a result of insurance protection for even the tiniest of dangers. As a result, we have fully secured lives. In olden times, if you had an injury, you’d look towards your bank account and assess whether you can afford the treatment or not. Today, the first thing we do is call the insurance company from our speed dial. Amid these different insurance policies, there is another one called ‘Public Liability Insurance’ or PLI. Here, we discuss the importance of this policy to different types of people.

In the modest of terms, the purpose of a PLI is to protect you against any damages to the public or their property, which could be directly attributed to you or your business. This means that having a PLI shields you against any claim lodged against you, regarding your involvement in causing any injury to the public or damage to their belongings. This policy is relevant to everyone who has any interaction with public. Until you sit at home all day and conduct your affairs in introversion, you might just need this policy.

Many clients, who require contractors to come and work at their premises, require this insurance. The reason behind it is quite simple – they want to be insured against any damage your actions may cause to the public. They would not want to be held liable to damages, which come as a result of your actions. This is especially the case with big corporate firms, who wish to be financially secured against any such damages. However, the need for this insurance is not limited to contractors only. Suppose you have a restaurant and somebody finds something in the food, or more ridiculously, blame the hygiene of your restaurant and its food of causing food poisoning, you might be looking at a potential lawsuit. You may be entirely sure that your food is 100% hygienic and might even be able to prove it, but does that eradicate the initial trouble and inconvenience. Also, fighting lawsuits do not come free of cost. You cannot possibly be too careful to be prone to something like this. It is in the nature of humans to find a scape goat, and it is more in some than others. To avoid being such a scape goat to negligence of someone else, you need to get a PLI. Even if we look at the other facets of this scenario and assume that you actually were the reason for any such damage, you are going to need a financial backing to see you through the lawsuit. Restaurant, office, retail business, vendor, and a hundred more similar occupations – regardless of what you do and who you are, at the end of the day we are all human and humans make mistakes. However, should you allow your mistake to be more damaging than it needs to be?

These things come about from different angles we do not expect them to. They can catch us by absolute surprise. Today, people do not hesitate once before suing each other for the most ridiculous of reasons, and these occurrences have increased, as a result of increasing number of firms, which offer their legal services on the basis of no-win-no-fee. In fact, these claims have seen billions of Pounds paid out each year, in the UK. Therefore, to avoid taking any such chance and protect yourself against any such litigation, a PLI could be your way out.

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