If you operate a physical business that interacts with customers or members of the public, it is imperative you get public liability insurance coverage. Without this form of insurance, your business could end up with a catastrophic bill. For instance, if a member of the public suffers an incident that has a direct connection to your business activities and they decide to make a claim.

Although public liability insurance won’t stop potential claims, it can help cover the costs associated with them. Ultimately, you never know when a mishap or mistake could occur. Your business activities might lead to the damage of a customer’s property, for example, or a member of the public could injure themselves on your premises.

Businesses of all sizes make use of public liability insurance. This ranges from global organisations to self-employed sole traders.

When thinking about the other main types of business insurance, we cannot forget to mention business premises insurance. As you can likely gather from the name, business premises insurance assists with protecting the potential financial burden if your property becomes damaged. However, that’s not all. This insurance type can also cover the stock and equipment located inside and even any goods in transit that become damaged.

Whether you operate a café or warehouse, you never know when damage could strike and hamper your finances. An event such as a storm might rip a hole in your property’s roof, or you may be targeted by vandals. As well as the cost of repairing the premises to its former glory, you have to think about how long it will pause current operations – and how this can impact money coming into your business.