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Public liability and property damage insurance explained

Both public liability and property damage insurance are essential forms of cover for companies. No matter what type of business you run, you'll need both forms of protection if you allow members of the public onto your premises. But other businesses can still benefit from one or other of these forms of cover.

Engineering and architects

Businesses like a firm of architects and engineering companies need public liability as this is an insurance that covers a firm if a customer or member of the public suffers an injury as a result of its business activities and then makes a claim for compensation. Accidents happen, so don't make the mistake of thinking that you're business activities are safe from liability claims.

Landlord cover

As this form of insurance is often known as "Landlords insurance", you won't be surprised to read that those who rent out their properties could benefit greatly from taking out property damage cover. This is a form of insurance that can be tailored to the individual business, and it's one where you could get great reductions on your premium if you insure several properties through the same insurance company.

Pubs, restaurants, shopping centres

The sorts of businesses that could benefit greatly from taking out both public liability and property damage insurance are those that entertain the most people. Pubs and restaurants who serve alcohol are probably the best example of businesses who need to protect themselves from claims while protecting their property from damage, but shopping centres, hotels and cinemas also need both forms of insurance cover.

Final word

Public liability and property damage insurance aren't cheap forms of cover, but they are essential if you deal with the public. Most businesses do, so you'll need to check comparison sites for the best insurance deals or talk to your local insurance broker to determine the level of insurance cover your business needs to take out.

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