FAQ'S - Public Liability Insurance

What is public liability insurance?

Public liability Insurance is one of the most common types of business insurance. It covers compensation and legal costs if a member of the public, including clients, suppliers, or others who interact with your business, decide to sue your company because their property has been damaged or they have been injured. Whether you are a self-employed tradesman, limited company or partnership, public liability insurance is one of the most relevant insurance policies for you.

Whilst there is no legal requirement to hold the policy, it is a fundamental business insurance to protect your business and many contractors and customers will make it a requirement of their contract.

Why do I need to have public liability insurance?

Public liability insurance is a crucial cover for many businesses. Having public liability insurance provides a reassurance for customers as they feel more at ease knowing they are protected if anything was to go wrong and it helps protect yourself from potentially significant and unexpected costs.

Who needs public liability insurance?

All businesses have some form of contact with the public, customers or suppliers which means that they are subject to a degree of risk. Public liability is recommended for many types of businesses but particularly those operating in the building trade.

We have listed a few examples of instances where public liability insurance would be needed below:

  • Plumbers – an incorrectly fitted pipe could lead to water damage within a client’s home
  • Electricians – faulty wiring could lead to a fire
  • Builders – working within the construction industry can mean there is exposure to hazards which can lead to injury.

What does public liability insurance cover?

Rhino Public Liability Insurance will cover legal expenses and/or compensation (up to your chosen level of cover). We offer cover levels of up to £1M, £2M and £5M (£10M upon application).

How much will it cost?

The cost of public liability insurance will be dependent on the type of business you run and the level of insurance that you require, just like with most types of insurance. If your business carries out lower risk activities, you will pay a lower price. However, if your business is perceived as higher risk, you are likely to pay more.

You can rest assured though that Rhino provides great value insurance from this point of view and we can provide your business with an instant quote today!

How much public liability cover will I need?

How much public liability you will need is all dependant on the type of work you carry out and the size of your business. Sometimes customers or contractors will stipulate a minimum level of cover that they require you to hold before dealing with you.

Is it a legal requirement?

Public Liability Cover is not a legal requirement. However, the protection this insurance affords is invaluable to most businesses.

How can I get public liability insurance?

Rhino can provide instant Public Liability quotations and cover, providing you with all the relevant certificates. Rhino also provides a number of ‘add on’ products that provide additional protection for the risks faced by individuals and businesses in trade.

What is the difference between public liability insurance and employer’s liability insurance?

Public liability insurance covers you for claims made by clients, members of the public or others on your site against damages or injury. However, employer’s liability insurance covers you against claims made by your employees, whether they are temporary or permanent, and others you may have employed such as work experience students.

Do I need public liability insurance if I am self-employed?

Public liability insurance is not dependant on the number of people working in your business but the type of activity your business runs. If the work you carry out has the potential to cause damage or injury to a third party or their property then you should seriously consider taking out Public Liability insurance.

Who is the insurer?

Rhino Public Liability is provided by Tokio Marine HCC, who are a global insurer with a market capital of $31 billion. Tokio Marine HCC are rated AA- (very Strong) by Standard & Poor’s.

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