What is Public Liability insurance?
Public Liability insurance covers the cost of legal action and compensation claims made against your business if a third party is injured or their property suffers damage whilst at your business premises or when you are working in their home, office, coffee shop or co-working space.This also includes the cost of medical treatment and transportation costs incurred
Do I need it?
If you often visit your clients or work in shared spaces where members of the public are then plenty can go wrong! Imagine you spill a cup of coffee and damage someone else’s computer equipment. Or someone trips over your MacBook charging cable as they rush past and hurt themselves (why do the batteries not last longer!).
In both cases, your business could be sued, your Public Liability insurance could then cover the cost of legal action and compensation costs, up to the limit of your policy.
What does Public Liability insurance cover?
- Injury to people. If someone is injured because of something you did, then they can claim compensation against you for it.
- Damage to someone else’s property. For instance, if you spill a coffee over someone’s laptop, Public Liability insurance will pay to fix it or replace it.
What level of Public Liability insurance do I need?
Choosing your Public Liability insurance limit often depends on the work you do and whether you have been asked to get a particular level by your clients.
You should also think about the work you do, how you interact with the public and the possible extent of compensation claims if something went wrong. Take into account your compensation also covers costs incurred like lost income and the medical costs for those that have claimed so it can quickly rise. In recent times compensation figures have got higher and higher to cover people injured who may have long-term issues.
At Dinghy we offer cover from £1m to £5m Public Liability insurance, you can buy it alongside Professional Indemnity
Roles that require Public Liability insurance
Roles that typically require public liability insurance include musicians
. These are professions that have a core element of being in the public domain. If you are working in venues or public spaces and you will come into contact with the public, then having public liability insurance is a must.
Top professions who need PL insurance
When should I turn my Public Liability cover off?
With Dinghy you have the unique ability to turn your Public Liability cover off while you’re not working, saving you money. When you buy a policy with us you can switch your status between ‘working’, ‘taking time out’, ‘looking for work’ or ‘on holiday’. Each status will adjust your Public Liability cover as needed. So if you switch to taking time out, looking for work or on holiday your Public Liability cover will be turned off, saving you money. Then when you come back to work, simply switch the toggle and hey presto, your cover turns back on. Finally, Public Liability insurance for the modern world!
One of Dinghy’s smartest features is this world-first ability to turn your Public Liability cover off while you are not working to save yourself money when you are off the clock. Perfect for freelancers who take long breaks, yes, but with Dinghy’s ‘to-the-second’ billing every freelancer could actually be using this feature daily even. Only pay for Public Liability insurance for the hours that you actually work!
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Do I need Public Liability insurance?
Anyone who comes into contact with other people while working should have Public Liability insurance. If you work in a shared office space, a coffee shop, or have clients come visit you at home, you should buy Public Liability insurance. Your home insurance may provide public liability insurance for working from home, however, work anywhere else and your home insurance won’t cover you.
How much does Public Liability insurance cost?
The price of Public Liability insurance varies depending on what you do and where you do it. For instance, the risk of injury to a pedestrian from a scaffolder dropping something versus you spilling coffee on them is quite vast. Depending on how hot you take your coffee! Consider some day-to-day worst case scenarios to work out your level of Public Liability.
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How does Public Liability insurance work?
If someone is injured by tripping over your bag, or you accidentally push your chair back into them, then they can claims for compensation from you. Your Public Liability insurer will pay for your legal fees and any damages.
How much Public Liability insurance do I need?
It really depends on your own circumstances; the minimum that we offer at Dinghy is £1m to provide for if someone requires long term care from their injuries, as these costs very quickly increase. It is more common for customer to choose £2m Public Liability insurance as the difference in price is not much more compared to the additional peace of mind.
At Dinghy we have carefully crafted our insurance products with the freelancer and self-employed lifestyle at their core. In doing so they fit perfectly with your flexible hours and changing work environments. Reflecting the modern way you do business. Stack them together, manage them easily and get yourself covered.