Looking for Public Liability Insurance?

Public Liability Insurance is a type of liability insurance specifically designed to protect business owners from lawsuits that arise from third parties being affected on business property. Third parties at a business include visitors, customers, contractors and even trespassers. Without a public liability insurance policy, a small business is liable to pay out of pocket for all legal expenses resulting from third party injury lawsuits. It is imperative that all businesses that operate in a public area purchase some sort of public liability insurance, as without one a single lawsuit which results in a claim could force a small business to shut down.

Buy Public Liability Insurance

There are numerous types of public liability insurance policies. Plans with more coverage will have higher premiums while those with lower coverage will of course have lower premiums. The type of business purchasing the public liability insurance also determines the monthly premium as businesses, such as a shopping mall, that attract a large number of visitors each day is more likely to be sued than a self storage company, which receives very few daily visitors. Some states actually require businesses that operate in public places to have some sort of coverage while other states don’t require it. Regardless, every business should have some sort of liability insurance as if anyone is injured on business property they could file a lawsuit. A single claim could force a business to pay hundreds of thousands of dollars in settlement.

Why Do I need Public Liability Insurance?

Suppose business “A” operates a bowling alley where one customer leaves their bowling ball on the floor and leaves. Say another customer trips and fall on that bowling ball, the business owner will be sued and they would be required to pay for that customer’s medical expenses. This small incident where a patron tripped and fell could cost the bowling alley owner several thousand dollars! Worse – let’s say that the large sign outside of the bowling alley fell and hit a visitor, then the claim could easily reach $100,000 or more, depending on the injuries. Business owners shouldn’t have to worry about these freak accidents, which is why all businesses should have some sort of liability insurance. The sad thing is, even if someone injures themselves while illegally trespassing on your property, without a public liability insurance policy, that trespasser will file a lawsuit.

Getting the Cheapest Public Liability Insurance Quotes

Premiums on public liability insurance policies are based on two things – amount of coverage and risk. The first is pretty self explanatory, the more coverage you want the higher the premium. The second bit looks at risk. The more likely a customer or visitor at a business is to injured, the higher the premium they must pay. Public places which attract large audiences like nightclubs, hotels, movie theaters and stadiums for example pay much higher premiums than a small store, as whenever there’s more people involved, the chance of someone getting injured is higher. Establishments such as Nightclubs and Gyms are particularly risky for insurance provides as nightclubs serve alcohol and anywhere that serves alcoholic beverages is a bit more dangerous. Gyms have to pay high public liability insurance premiums too because they have lots of heavy equipment and getting injured at a gym while lifting weights is much more likely than getting injured at a coffee shop. The cheapest public liability insurance policies are available to low risk businesses like coffee shops and small stores. The higher the deductible on the policy, the cheaper the monthly premium.