In brief, liability insurance is used to protect a company or individual in the event they are sued for negligence or damages, such as being responsible for causing someone an injury, or the unintended breaking of a third parties property by accident or through carelessness. In the event that a third party sues a company or individual in relation to liability, the financial compensation ordered can be substantial.
Liability insurance is becoming increasingly common, especially given the current claims culture – this means that should your oversight or misjudgement ever cause any damage or injury, you should expect to be sued. The most common types of claims are for slips/trips/falls from insufficiently maintained paving or spilled fluids such as drinks or melted snow; stress or anxiety caused by malfunctioning elevators, electronic failures, or even hold ups inside premises; and damage from falling objects (from scaffolding, ladders etc) also makes a large contribution to the statistics.
For the small price it costs to have liability insurance in force, the peace of mind and benefits are more than affordable. The cost and cover provided vary but here at Compare Taxi we can tailor fit a policy that will suit your profession and cover you for common scenarios and most eventualities. Get in touch with us today to discuss your options and see what we can do for you!
Public Liability Insurance
As with all careers and livelihoods these days, it is important to protect both yourself and your business from all potential risks. Public Liability cover will provide you with the peace of mind to go about your business calm in the knowledge that you would be compensated for any losses arising from a claim in connection with your occupation.
So what kind of ‘losses’ do we mean? Imagine this, a passenger’s luggage of significant value is stolen from your vehicle whilst in your care and is not retrieved? Who is paying to replace it? Maybe their possessions are damaged during transit due to your negligence or oversight? Who is repairing them? Maybe a passenger steals your mobile phone or wallet from inside the vehicle? Can you afford to replace them? This is where Public Liability is your ally.
What’s more is that the cost of Public Liability insurance cover isn’t even that high! Here at Connect Insurance, we have premiums starting as low as just £60! That’s right, £60 to safeguard yourself from all these potential headaches!
Employers Liability Insurance
Do you have employees working for you? Could you afford to pay for legal costs and/or personal compensation should they have an injury or illness and it is deemed to be your fault? Usually the answer will be no. Even more as of late, especially when you consider that claim and legal costs are on the rise and show no sign of slowing!
Employers Liability is designed to provide cover for the cost of any damages and/or legal fees incurred in the event that oversight or negligence results in an employee filing a claim against you. The amount of cover available is typically up to a value of £10 million; this may seem excessive, however should multiple claims be processed against you, the costs can quickly begin to escalate, amounting to a small fortune.
Should an act of terrorism affect your business, the liability insurance can even cover this to ensure you are not disadvantaged should your employees claim for any losses. The liability cover can ensure that all claimants are compensated accordingly without leaving yourself out of pocket, or even in the worst case, out of home.