Why should I choose £10 million public liability insurance?
£10 million public liability insurance is ideal for businesses that face significant risks due to the scale or nature of their work. Here’s why this higher level of cover might be essential for you:
1. Meeting contractual requirements
Many large contracts, particularly those with government entities or major corporations, require businesses to carry a higher level of public liability insurance. If you’re bidding on high-value projects, £10 million cover can help you meet their standards and secure more lucrative opportunities.
However, even someone like a personal trainer or a booking practice might still be required to have £10m of public liability insurance because the office building or the venue requires it.
2. Working on construction sites
Construction sites are inherently high-risk environments, with heavy machinery, hazardous materials, and workers operating in close proximity. One mistake could result in severe injury or significant property damage, which is why higher coverage is often needed.
For example, a scaffolding collapse causes damage to a nearby property and injures several workers. The compensation claims and repair costs total over £8 million. Without adequate insurance, the business could face serious financial strain.
3. High-value projects
If you work on projects involving valuable assets or properties, a minor accident could result in costly damage. £10 million public liability insurance ensures you’re protected against substantial claims that could otherwise cripple your business.
An interior designer working on a high-end property accidentally damages a rare painting worth £2 million. The client files a claim for the full cost, and the designer’s policy covers the compensation.
4. Dealing with large numbers of the public
Businesses that interact with a large number of clients or the general public face higher risks of accidents and claims. Whether you’re hosting events, running a retail store, or managing a public venue, this higher coverage can safeguard you from costly liabilities.
Not so long a catering company providing services at a large festival experienced a large claim as a result of mass poisoning resulting from unwashed curry leaves imported from another country. The combined medical expenses and legal fees were substantial. Without the right level of cover, a business of this kind would not be able to handle the financial impact.
Where can I get public liability insurance up to £10 million?
Finding public liability insurance with up to £10 million cover can be challenging for risky industries. Often, builders and other tradesmen have to go through a broker to secure the right level of cover. The issue is that it tends to increase the cost of the insurance.
However, there are a few online alternatives, and Suited is one of them. Suited offers £10m public liability insurance option to most of the professions and trades on its list. And if you are not offered the option, give us a shout.
Common questions
Can I buy £10 million public liability insurance online?
£10m public liability insurance can be purchased online, depending on your work. To see if this option is available for your specific work, simply click the "Get my price" button. You'll receive a personalised quote based on various factors, ensuring you find a policy that suits your budget and needs. If you can’t see the option, contact Suited. We may be able to help.
Do I have to answer more questions to get £10 million public liability insurance?
Sometimes, you may need to answer additional questions to secure £10 million in public liability insurance. For example, if you work on large and complex projects or organise events involving lots of people. However, it’s just a contractual requirement; you can purchase £10 million of public liability cover on the Suited website in just a few minutes.
Is £10 million public liability insurance a standard requirement?
£10 million public liability insurance is often a standard requirement by venues - gyms, wedding halls, conference centres and similar; also by clients whose properties or projects are high value; local UK authorities such as the local councils and professional bodies that regulate your industry.
Is £10 million of public liability insurance expensive?
If the reason why you are seeking this level of cover is because your work is or the project you’re working on is high risk, then you may need to pay a higher premium than if it is just a contractual requirement. The other factor is also the number of people carrying out the insured work.
Co-founder of Suited and insurance technology specialist, highly experienced in designing and delivering digital insurance solutions for SMEs and the self-employed.
CEO of Suited, with 20 years’ experience in business insurance, focused on building flexible, digital insurance solutions for SMEs and self-employed professionals.
Note
This guide is for informational purposes only and does not constitute advice or a personal recommendation.
