What You Should Know about Public Liability Insurance Coverage

As a business owner, one of the leading insurance policies you need is public liability coverage. This type of insurance is designed to protect you and your clients or customers if a loss happens on your property. This can be a physical loss or a monetary loss. Before you get public liability insurance, there are a few things you should know about the insurance coverage. Here are three key points you should know.

Injury and Death Payments

One of the leading coverages, provided by public liability insurance, is coverage for injury or death. The coverage amounts are paid out based on the amount of coverage you get on the insurance policy. The policy amounts will be paid out directly to the injured party or their surviving family members. In most cases, they will have to prove that the injury or death did occur at your place of business. In some cases, depending on local rulings, they may have to prove that your business was also at fault.

Medical and Legal Fees

If an injury, death, or loss occurs to a client or customer of your business, then there will likely be professional fees associated with the loss. These fees may be legal, medical, or both depending on the loss. The public liability insurance will cover at least part, if not the total cost, of these fees as long as the fees are totally related to the loss that is connected to the issue at your business. Keep in mind that this type of compensation is determined by viable proof from the injured party, including dates and paperwork showing the actual fees and what they are connected to.

Your Legal Fees

One of the key points to remember is that public liability insurance will also cover your legal fees during any issue related to public injury or loss. This means that the fees to obtain a lawyer, legal fees from that lawyer, and possibly court costs will be covered under your public liability insurance. This helps reduce your business's out of pocket expenses while ensuring that you, as well as the public, are protected and represented fairly.

These are just a few of the public liability insurance coverage points you should know as a business owner. If you are ready to open a public liability insurance policy, contact your local insurance agent. The insurance representative can help you with questions you have about the policy and about other policies that may fit your business such as construction insurance and construction insurance services.

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