Choose the right cover level
It’s important that you choose the right level of public liability insurance. The lowest level of cover is £1 million; however, you can also take out cover protecting you for £5 million or £10 million if necessary.
Choosing the right level depends on the nature of your business, and you should ask the companies that you work with whether they stipulate a certain level. For example, if you are working on a government contract, you are likely to require a high level of cover in this area (usually between £5 and £10million)
What to look out for?
You need to ensure that the insurance policy covers you for the right business activities. For example, certain policies may not cover you if you work above certain heights (e.g. 10 m) or with heat. To check, make sure you read the policy exclusions and endorsements in full. This information can be found on our results page for each quote that you receive.
Tips on saving money
Most importantly you need to ensure that an insurer provides a policy that adequately supports your business activities. Unlike car or home insurance, there are many variations between insurers, so do check policy wordings, endorsements and exclusions in detail. Also check that your cover levels are adequate for your business needs.
Once you’ve selected the public liability policies that are right for you, you may notice significant differences in price. Don’t be concerned by this, as each insurer prices using different factors. You also may not be as familiar with some of the brands as with home and car insurance. Don’t let this put you off choosing an unknown brand if it provides better value for money.
All the insurers on our panel are backed and underwritten by brands that you probably will have heard of. If you click on any of our insurer logos once you've received your quotes, we’ll explain in more detail who is behind the brand. Equally, if you need more reassurance give us a call and discuss your concerns with our insurance experts.
One easy way to reduce the cost of you annual public liability insurance premium is to reduce the risk of your business. If you improve the general safety at your premises, improve the security and follow the recommendations given to you by your insurer, you can usually shave a little off the price of your policy.
It's also important to make your insurer fully aware as to how long your business has been trading for, as this may earn you a small discount if you've been running a successful business for some time. Likewise, if you're a start up company you may find that you pay more for your first year of cover and this will drop with each additional year your company operates for.
As with any other insurance, it’s important that you shop around, and don’t rely on your existing insurance or local broker to provide you with the best deal. Its best to do your research online and MoneySupermarket.com will let you compare all the major business insurers in one quote.
Cheap public liability cover isn't always the best option
As mentioned above, you should be careful not to opt for a cheaper policy at the expense of essential cover. It's best practice to look for a premium that gives you the features you need at a cost effective price.
You may also find that cheaper policies have higher excesses that you would need to pay out in order to facilitate a claim, and this could negate the initial saving and cost you more in the long run.
You can usually bring the cost of a policy down by playing with the cover levels, but it's important to remember that this could be a false economy if you leave yourself without the necessary cover in key areas, and you're unlikely to get a full payout if you need to make a claim.
To get started with a public liability insurance quote, please click on the link below or hit the "get a quote now" button at the top of the page.
Compare public liability quotes and business insurance cover