Why you may need short term public liability insurance
Short term public liability insurance protects against liability claims only for a short period of time. Like other public liability insurance, short term public liability covers against third party compensation claims for suffering injury or property damage due to your business or alleged negligence on your part. If you are planning an short event where members of the public will attend, it may be necessary to get short term public liability insurance to cover you during the event.
How short term public liability insurance works
Short term public liability insurance provides the policyholder financial support to handle any claims made by a third party should any damage or injury happens to the third party. Damage or injury to the third party could be something as simple as a customer in your business or visitor to your event tripping on a loose rug in your premise, resulting in an injured knee ligament and a claim for compensation.
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Generally, the shortest period short term public liability insurance can protect you against third party claims is a day with premiums such as £40 for £1m public liability sum insured for one day events. Short term public liability is often flexible and can be tailored to suit your individual needs. You will, however, need to know the date when the event you want covered will be held as well as the number of people you expect to attend the venue.
Scenarios where short term public liability can be beneficial
There are many scenarios where you may find you need short term liability insurance or a one day event insurance. Among the scenarios where short term public liability can be beneficial include carnivals, public firework displays, wedding functions, parties, craft fairs and car boot sales. Short term public liability for such occasions or events provides cover for both one-off and annual events, including outdoor and indoor events.
Benefits of short term public liability insurance
Apart from protecting you against third party liability claims and shielding you from incurring huge financial losses, short term public liability insurance also has other benefits:
- Short term public liability premiums are generally cheap often amounting to less than one per cent of the money invested in a short term business or assignment
- Short term public liability is flexible and easily tailored to meet the exact needs of the policyholder
- The premium paid and the duration of premium payment is opted, depending on the duration the public liability cover remains in force.
You can take out short term public liability insurance online in a matter of minutes by simply requesting a quote for a one day, two week or yearly event and completing your secure online form application and cash payment.
When taking out the short term public liability insurance, make sure you choose a policy that covers all your needs and the entire period the event will be held. Also, ensure you are comfortable with the premium amount and the cost of risk associated with your short term public liability insurance.