Tuesday 2 Jul 2013

Public liability insurance for small business owners

InsuranceSetting up your own business can be a daunting task but incredibly fulfilling if done right. Once you have your business plan in place and a catchy, memorable brand name, it's time to look towards what extras you may need to ensure operations can run smoothly. Despite the credit crunch a few years ago, small businesses can still flourish and while it's certainly not easy, it's totally doable.

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In an age where a claims culture is rife, with claim management companies pushing individuals to make a claim wherever they feel they can, the importance of the necessary insurance is paramount. Nowadays, liability insurance is essential to ensure your back is covered should a claim be made against you and while the chances of such a thing happening is lower than if you were part of a larger corporation, if things did take a turn for the worst, you could lose everything.

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It's easy to get a quote for public liability insurance online that will help to protect you and your business against any compensation claims made. If you work alongside the public – customers or clients – and an accident happens that they deem your fault, they could prosecute you and you could be expected to repay the damages, as well as pay the associated legal fees. With plenty of providers available, including Hiscox, you can ensure that you benefit from the most competitive quote that suits your business needs perfectly.

It's easy to ignore the little expenses each month, in order to save as much money as possible. After all, it's not an easy time to live in and every penny counts. As a fledgling business, it may be tempting to skip the insurance policies and continue your new venture without them in the hope that nothing bad happens. Unfortunately, mistakes can happen to anyone at any time and if you face a compensation claim without the insurance, what are the chances of you being able to come out the other side OK?

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While public liability insurance is essential if you're going to be working with the public at any point during your day to day operations, you should also take a look at professional indemnity cover and employers liability insurance, too. Pay the premiums each month and invest in the future of your business.


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