FAQ: About Public Liability Insurance

Questions

Answers

What is public liability insurance?

Public liability insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or in the course of running your motor trade business. It also covers any related legal fees, costs and expenses, as well as costs of hospital treatment (including ambulance costs) that the NHS may claim from you.

How can I lower the cost of my Public Liability insurance?

The first thing you need to do is lower the amount of risk you present to the insurers. The safer your working environment and the fewer claims you have made, the lower your risk will be.

Next you need to start the time consuming job of shopping around. Fortunately Trade Plan Insurance will do that part for you. At Trade Plan Insurance we deal with several motor trade public liability insurers. We will find you quality public liability insurance at low costs.

How is the cost of my Public & Product liability calculated?

Public liability & Product liability insurancepremiums depend on the type of motor trade business you run, your turnover and the number of employees you have. For Public liability & Product liability insurance the exposure risk is also based on factors such as whether you work away from your premises.

When would I need Public liability insurance?

If members of the public or customers come to your premises or you go to theirs, you should think about taking out public liability insurance.

What does Public Liability Insurance Cover?

Public liability insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business.

It also covers any related legal fees, costs and expenses, as well as costs of hospital treatment (including ambulance costs) that the NHS may claim from you.

Is Public Liability Insurance Compulsory?

While employer’s Liability Insurance is compulsory,public liability insurance is generally voluntary. However some businesses, eg horse riding establishments, are required by law to have public liability cover. You will also find that many of your customers or potential customers require proof of adequate insurance before they will allow you to work for them.

At Trade Plan Insurance public liability insurance can be included as part of one of ourmotor trade road risk insurance policies as an optional extra. So if you don’t require the cover, you don’t have pay for it.

There are many conditions, exclusions and warranties that can be applied to public liability insurance policies. It is important that you call Trade Plan Insurance on 0800 542 2741 for advice if you are still unsure in regards to any matter relating to your public liability insurance requirements.

Do I need Public Liability Insurance if I run my Motor Trade business from home?

If you run your Motor Trade business from home, and customers or members of the public visit you there, you may also want to think about taking out public liability insurance.

You are still liable for members of the public’s claim against you for bodily injury or damage to their property if your business is run froma residential address.

If you do not have public liability insurance you are be liable to pay the full amount of compensation required to settle any claim. Public liability claims can amount to huge sums of money.

Do I really need Public Liability Insurance?

If you do not have public liability insurance you are be liable to pay the full amount of compensation required to settle any claim. Public liability insurance claims can amount to huge sums of money.

Last year in the U.K. over £5 billion was paid out on public liability insurance claims. Failing to take out public liability insurance could put you out of business. With Trade Plan Insurance’s cover starting from as little as £120 a year why take the risk.