Sign Makers Public Liability Insurance
Do I need Public Liability Insurance?
Public Liability is about protecting yourself against claims made for alleged negligence, whether that is at your business premises or whilst on site. Whether it be a member of the public who trips over a power chord or a supplier who falls down your entrance stairs as a result of a broken step, these are all liability claims.
What does Public Liability insurance cover
Public Liability whether for the sign industry or not is probably the probably the most well known and understood. Liability insurance for a Sign Business is generally quite straight forward, it covers you for loss, damage or injury caused to a third party due to your negligence (it has to be proven though first).
What is a Public Liability Indemnity Limit?
An indemnity limit is the amount that the insurance company will pay up to in the event of a claim. These limits do vary and its up to each business to choose the limit they require based onthe risks they are exposed to.
Limits of indemnity start generally at £1million but this can be increased with standard limits being £2million and £5million with some customers wanting £10million or above. These limits in respect of Public Liability insurance is for any one loss. It doesn’t matter whether you are a sign manufacturer or a sign installer you just choose the level of cover you require.
The Signelite Public Liability insurance policy provides £5,000,000 as standard and where you work for employers requiring £10million cover (which tend to be local Authorities for instance) we can increase the indemnity limit for specific contracts that you have or provide that limit annually.