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Just what is liability insurance?

Have you heard about liability insurance and are you are wondering if it's something you should invest in? In this blog we'll be giving our brief guide to liability insurance, and we'll try to break down the jargon that surrounds this sometimes hard to understand insurance product.

Basically put, liability insurance is a set of insurance documents that cover you against legal claims. It can fall into two main categories; Public Liability Insurance and Employers Liability Insurance. There are also more specialised policies available depending on which industry you work in. For example, doctors and construction workers can have their own specialist liability insurance.

These policies are usually extremely specific to the individual that has taken them out as they tailor the liabilities you are covered for to your individual needs. You can generally set the level of liability cover you take out yourself. Most insurance companies will set the available figures at £1, £2 or £5 million. The policy costs will be adjusted to reflect the level of cover you are seeking.

Employers Liability Insurance will cover you against claims made by your own employees and is available for pretty much every profession in the UK. If you own a company in the UK and you have employees, then it is your legal obligation to take out a liability insurance policy.

To put it in simple terms, if you work in a profession where there is a potential risk of injury to others from your actions, then we highly recommend you take out a liability insurance premium.

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