Public liability insurance is not mandatory under UK law. However, without it, the consequences of a claim could be devastating for you and your business.
Even if you have the most stringent safety and security procedures in place, accidents can happen. And there’s more to public liability insurance than just covering financial costs:
- Without public liability insurance, you may find it difficult to keep your business up and running. Customers expect you to be insured for any unexpected events, and many will refuse to use your services without it. Local authorities usually ask for a minimum cover level of £5 million before you can tender for work.
- If you’re working as a subcontractor, your contractor will insist you have public liability insurance before hiring you. Without it, you could lose lucrative projects.