Personal Liability Insurance

Personal Liability Insurance, also known as ‘Professional Indemnity’ insurance, covers the financial costs of claims and legal expenses related to allegations of professional misconduct or negligence made against an individual. It does not cover any damage caused to property or injury sustained by a third party.

Public Liability Insurance on the other hand is designed to protect individuals from third-party claims of negligence or damage caused to property. It does not cover any personal injury, alarm or financial losses sustained by the policyholder.

The main difference between professional indemnity insurance and personal liability insurance is that Professional Indemnity Insurance covers the financial costs of claims and legal expenses related to allegations of professional misconduct or negligence made against an individual, while public liability insurance protects individuals from third party claims of negligence or damage caused to property.

Professional Indemnity Insurance is usually taken out by professions such as accountants, medical practitioners, consultants and lawyers, as they may be held liable for any losses or damages sustained by their clients due to their professional advice or services. This type of insurance policy covers the cost of defending allegations made against them, as well as covering any compensation awarded in the event of a successful claim.

Public Liability Insurance is usually taken out by businesses and organisations, as it covers their legal liability for any injury or damage to third parties resulting from their business activities. This type of insurance policy also covers the cost of defending allegations made against them, as well as covering any compensation awarded in the event of a successful claim.

If you have personal liability insurance, you may still need to take out employers liability insurance depending on the type of business you are running. Employers’ Liability Insurance is legally required for businesses that employ one or more people, as it covers an employer’s legal responsibility for any injury or illness suffered by their employees in connection with their work. It also provides protection against claims made by former employees who believe they have been injured or become ill as a result of their work for the business.

Therefore, if your company employs anyone, it is essential that you take out employers liability insurance. If you do not have this type of cover in place and an employee makes a claim against you, then you could be liable to pay substantial damages.

In addition to employers liability insurance, there are other forms of business insurance that may also be relevant for your company. For example, public liability insurance can provide cover against claims made by members of the public who sustain injury or damage due to your business activities. This type of cover is particularly pertinent for businesses operating in customer-facing roles, such as retail stores or restaurants. Other forms of liability insurance include professional indemnity cover and product liability insurance – both of which are designed to protect your business from legal claims made against it.

It is possible that some of the existing insurance policies you have already provide cover against third-party claims. However, it is important to review your policy documents carefully and contact your insurer for further clarification.

It is also recommended that you seek professional advice from a qualified insurance advisor who can help ensure that any relevant coverage is in place to meet the specific needs of your business. By doing this, you can be sure that your business is properly protected from any potential third-party claims.

Liability insurance typically covers the legal fees associated with defending against any claims made against the insured party plus any compensation payable as a result of any claims successfully pursued.

This may include any medical expenses, property damage, loss of income or other financial losses sustained by the third party as a result of the insured’s negligence or wrongdoing. Depending on your policy, it may also provide coverage for any personal injury suffered by the third party and the costs associated with repairing any damage caused to their property.

If you’re self-employed, you’re responsible for any liabilities resulting from your business activities. This is why it’s important that you have adequate personal liability insurance cover in place to protect yourself financially. It’s also a good idea to look into additional coverage such as product liability insurance cover and professional indemnity insurance if appropriate for your industry.

If you’re looking for an all-in-one solution, or tailored cover, it could be a good idea to get in touch with our experienced team today. At Tradesman Saver, we can provide a complete range of insurance policies, including both personal and public liability insurance policies. For more information on any of our insurance packages, call our experienced team today.

Public liability insurance is highly recommended and protects you against more than personal liability insurance. Saying that, here at Tradesman Saver, we are dedicated to keeping our client’s insurance costs as low as possible. As such, we’re often able to provide adequate public liability insurance cover for as little as £59 per year, protecting you against compensation claims, personal injury or property damage.

For more information, don’t hesitate to get in touch today.

Public liability insurance covers any injury suffered by a third party and the costs associated with repairing any damage caused to their property. This is different to personal liability insurance which covers liabilities related to your own negligence.

Additionally, public liability cover will also provide financial protection if you are sued for causing harm or any kind of accidental injury to another person. In this case, public liability insurance covers your legal costs, and should be considered as essential.