Sometimes it is easy to get a bit lost in all the jargon around insurance, and not really comprehend what you and your business are actually covered for!

Public liability insurance covers your legal liability to third parties in relation to property loss, damage or bodily injury caused by an occurrence in connection with the business.

Having this type of insurance is important because someone could sue you, claiming that your business activities have caused them loss or damage, and those legal and compensation costs can be very steep!

Product liability insurance is similar, except that it is designed to cover any injury or property damage that arises from the use of products you make or sell. For example, if a product is defective, it could result in property damage, loss of property, personal injury, or even death.

Product liability is just as important as public liability, because you could end up with a rather expensive claim against you if your product inadvertently harms a customer in some way and you don’t have cover in place.

Make sure to regularly review all your liability covers, to ensure your insurance is adequate for your business’s financial protection.

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