How To Get a Public Liability Insurance Quote

You want to be prepared when you are looking for a public liability insurance quote. The first thing to keep in mind is that public liability insurance is also known as liability insurance, general liability insurance, or indemnity insurance. They all mean the same thing so don't be put off. You need public liability insurance to protect your business in case there is an  injury to a third party or property damage.

Before you get started, you need to have the top 5 things you will need to get an accurate public liability insurance quote:

1. Occupation. What occupation(s) do you need to be covered for? Be prepared to explain exactly what you do or indicate what type of occupations yours is similar to, as you cannot expect the insurance company to list every occupation in the world.
2. Workers. Prepare a list of everyone involved with your company. First, put them down in one of four categories being either a director, principal, partner or employee. Second, put down whether their work is manual or clerical.
3. Trading. What date did your company start trading?
4. Experience. How many years experience do the directors/principals/partners in the company have?
5. Indemnity. Know what level of indemnity you need, whether it be 1, 2 or 5 million. Most people opt for 1 million although some jobs (such as working for the council) require 5 million.

The insurance companies are going to ask you other questions as well. Being the company owner, you should know the answers off the top of your head, but it might be worth having some general business information and previous insurance history at hand. As each insurance company differs in their question set, all you can do is prepare the best you can. Insurance for small businesses is out there, and can be affordable.

You will be given a variety of quotes from the insurance companies, but cheapest doesn't normally mean best. Check the level of coverage you are getting and find the best option for you. One key type of cover to look out for is a "legal helpline." This is not available on most policies, but can be very useful in the event of a tricky claim where legal advice is needed. Top liability insurance companies often have this legal helpline available. 

Another tip: don't agree or sign anything until you have read all the terms and conditions, as in most case you are entering into an annual agreement. Some insurers may charge a fee for early cancellation so be sure of what you signing up for.