PL Is Premier League, More Importantly, PL Is Public Liability Cover.
Seeing the initials PL might start to get any football fan excited. It’s a reference to one of your favourite sports, and it’s always exciting when the new season comes around. But PL doesn’t always stand for Premier League – in business it often stands for public liability. But don’t stop paying attention just yet! It might not be as exciting, but public liability insurance could be just as important as your team making it all the way to the final. It’s one of the most essential things to help you protect your business, especially if you deal with members of the public in any capacity.
Public Liability Insurance – What Is It?
Public liability insurance is one of the types of insurance available to business owners, including freelancers and small business owners. Its purpose is to pay any expenses that might come from someone making a claim against you for injury or damaged property. It’s not a legal requirement, unlike employer’s liability insurance, but it is highly recommended by any business that deals with the public in any way. This will include most businesses from shops and office-based businesses that meet with clients to plumbers and tutors. Public liability insurance can cover legal costs and any compensation or settlements.
Save By Not Having PL? Why It’s a Huge Own Goal
You might think that public liability insurance isn’t worth the money. No one has sued you so far, and you always make sure to maintain health and safety, as well as security. However, you never know when something could happen. If a client slips and falls while visiting you or you accidentally break something while in someone’s home, you could be responsible for any resulting costs. You might think that not paying for public liability insurance will save you money, but it could end up costing you a lot.
PL Protects You at Home and Away
Public liability insurance helps to protect your business, no matter where you are. It can cover your own premises, whether it’s a shop, an office space or even your home office or a co-working desk space. So don’t make the mistake of thinking that you don’t need it if you work from a client’s office, in other people’s homes as a contractor or from your own home. What’s more important is whether you deal with members of the public and they could claim that you’re responsible for an injury or for damaged or missing goods.
Win Big with Public Liability Insurance
You might like to place a bet on the football, but getting sued isn’t something that you want to gamble on. If you think there could ever be any risk of someone getting hurt or having their things stolen or damaged while you’re working, you need to have public liability insurance. By protecting your business with the right insurance cover, you won’t have to worry about how you’re going to pay for any legal costs.
You come out on top if you take out public liability insurance and protect your business.