Public Liability Insurance Questions With Answers

Listed below are the five most frequently asked questions about the basics of public liability insurance

. These questions can be very informational especially for those who are new to the concept of public liability insurance and are planning to get one.

Question 1: What exactly is public liability insurance?

Public liability insurance is a type if insurance that protects business owners from being sued if they are responsible for harming a third party in any way such as personal injured, loss of life or damage to property. The compensation amount given to the third party will depend on the insured amount and deductible chosen by the policy holder. Small businesses can insure their businesses for $5 million or more and can opt for certain add on benefits for a nominal fee.

Question 2: Why should I get public liability insurance?

You should get liability insurance especially if you want that sense of security and not having to worry about being sued. People who opt for liability insurance plans do not have to worry about paying for claims out of their pocket and can continue to run their business effectively and efficiently at all times. Other types of liability insurance plans that are ideal for business owners include business liability insurance and product liability insurance.

Question 3: What is the difference of a public liability insurance and a product liability insurance?

Product liability insurance protects product manufacturers when a business or customer has suffered due to using a defective or harmful product. Many insurance companies offer add on product liability benefits or discounted product liability plans if buyers buy more than one type of insurance plan from the same insurer.

Question 4: Which businesses should opt for liability insurance?

Office and home-based business owners should opt for liability insurance especially if their clients frequently visits their designated area of business. Certain individuals like professional doctors, lawyers, nurses and architects can also benefit from opting for liability insurance. Other professionals who can benefit from this type of insurance are, tax agents, traders, recruitment consultants, swimming pool safety inspectors and registered migration agents.

Question 5: Where can I get public liability insurance?

Buyers who are interested in getting good liability plans can either visit insurance companies or checking insurance companies online. The main benefit of buying a policy online is that buyers can compare various policies using online insurance comparison services before selecting an insurance plan. Many buyers prefer to get policies online since the process is more convenient and all the required information is readily available on the website. Many insurance companies and insurance agents provide instant quotes online and some companies even offer online assistance.

by: Brent Ford

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