With the recent contact with St Stephens over publicly showcasing the client project I bumped into “Public Liability Insurance”, St Stephens required this to allow us to showcase the work. Now as a student I was unaware of the importance and requirement of this to display in a public place, so i decided to look into it to give me a better future understanding for any projects I or my group my showcase.
A public Liability Insurance is one of the more common insurances taken out to protect businesses, while it is not compulsory its highly recommended as extortionate fees could occur if they are not covered for anything that happens. The most general area it covers is that if any member of the public is to injure themselves because of your store/business or if another persons property is damaged when you are at work, for example a delivery driver opens his door onto another car and leaves a dent. Here is the description from confused.com on public liability insurance coverage:
So what does public liability insurance cover, exactly?
You’ll find that your insurance policy covers a vast range of situations, but generally speaking, a public liability insurance policy covers your business if someone is injured in some way by your business, or if you damage third party property when carrying out work. Bear in mind that even a minor scratch to personal property could lead to hefty fines, especially as you could be required to pay legal fees if the case goes to court, and these too will be covered by your policy.
When taking out public liability insurance, you need to tell your insurer what type of business you operate. This is not just for the sake of records, but will help you come to an agreement over the type of policy best suited to you – whether your insurer judges cover up to £1 million to be sufficient for your needs or if a larger policy of around £5 million would be more appropriate in the circumstances. If you work in the public sector, for example, you will often be required to take out a minimum of £5 million.
Don’t assume you will be safe without public liability insurance just because you run a small business, or because you don’t make deliveries. Something as simple as a coffee spill over a client’s computer, or a loose nail causing a customer to trip while visiting your office, could cost you thousands if you’re uninsured. –www.confused.com
This is quite an important insurance to have it seems, if we was to go to St Stephens and did not have this insurance and something was to happen the business we are working for (Hull School of Art and Design) would potentially get heavy fines which could lead to more fines if the case goes to court as then you have to pay legal fees.
In connection to us public liability insurance is clearly something we should and do have, I imagine for St Stephens if we didn’t have this insurance we would have been unable to showcase the product as partial liability would fall to them as they are accommodating us.