Business owners usually carry several insurance products, each designed to address a specific area of exposure and liability. For businesses that do a lot with the general public, whether clients or customers are continually on your property or attending events sponsored by your company, there are several reasons why public liability insurance should be added to the package.

The General Coverage

With public liability coverage, you will have support if your business is ever sued by a member of the public, a customer, or a client. The policy is will pay for the cost of the legal defense needed to resolve the claim, as well as pay up to a certain amount in settlement money or compensation ordered by the courts. The policy covers the cost of medical treatment for those that may be injured while on the business property or at a business event. The policy doesn`t apply to injuries that occur to employees.

The Requirements for Coverage

Though there is no legal requirement for public liability coverage, your company may not be able to survive without it. Any customer or individual that has an accident on your premises is a potential lawsuit. However, you could inadvertently damage another; s property when visiting them or conducting business on their property.

It`s best not to take a chance with your company and its future. Check with your insurance broker to make sure your coverage is complete.