Don’t think you need public liability insurance? Then think again – there are a number of ways in which public liability insurance could be useful to your business, read on to find out what they are:
Confidence in your business
Although it’s not a legal requirement in most cases (there are a few notable exceptions like horse riding stables), public liability insurance is something your customers like to see. It gives them confidence in your business, providing reassurance that you are a responsible business owner and that they are covered in the event of an accident. Ultimately having public liability insurance helps to keep your customers happy, and happy customers are those that are most likely to return.
Help your business grow
If your sights are set on developing your business and broadening your customer base, then Public liability insurance is a must. In fact having public liability insurance is often a requirement of larger contracts, especially if they are in the public sector, where it’s not unusual for a five or ten million pounds of insurance to be a stipulation of a contract. So if you want to expand your business then taking out public liability insurance is a good first step to take if you want to bid for public sector work or contracts of a significant size.
A new audience
More and more now, customers look out for companies that have signed up to industry standards or that are members of respected trade organisations. However, public liability insurance is often a requirement if you want to join such bodies, so if you want to show that you subscribe to industry best practice in your chosen sector, having public liability insurance will help you. A good case in point here is the checkatrade website used by over 6 million people every year, that’s a lot of customers who could be looking for your services – but for them to find you, you need to meet all of the checkatrade requirements including having public liability insurance. So having public liability insurance could help you join key trade organisations, meet industry standards and ultimately bring your services or company to the attention of a new audience – an audience from whom you may receive new business.
Protect your business
More than anything, public liability insurance will help protect your business in the long term and give you peace of mind – knowing you are covered should a member of the public make a claim against you. Whether you visit customers in their homes or have a regular stream of customers visiting your business premises, public liability insurance could help your business. From covering slips, trips and accidents in your shop or café to accidental damage you may cause to a customer’s property, the right insurance will give you protection. In fact, it could even help you if a trespasser entered your property uninvited and hurt themselves. So the benefits of public liability insurance are significant, especially when it comes to protecting your business for the future. To find the right level of insurance cover for your business, speak to an experienced advisor such as the team at Be Wiser Business Insurance, they can help find an insurance policy tailored to your specific business needs.
So, there you have the range of benefits public liability insurance could bring to your business, from increasing customer confidence to improving your competitive edge and bringing your services to a new audience. It’s a must to take your business into the future.