How much Public Liability Insurance?

How much Public Liability cover do I need?

All businesses are different, so the amount of cover needed will depend on many different factors including the extent of contact you have with the public, the types of clients you work with and the size of your projects.

Public Liability insurance provides cover limits of £1m, £2m or £5million. The cover level is the maximum amount that your insurer will pay out in the event of an insurable claim.

Public Liability cover levels are in the millions because compensation figures can take into account things such as the third party’s loss of earnings, medical costs and ongoing care costs, so the amounts can be very high. Your insurance can also cover legal fees.

When working out how much cover you need you should consider;

Your clients and contracts

It’s important to understand the requirements of your clients and any limits specified within the contracts.

Some clients will stipulate a particular level of cover from the businesses that they work with. This is often the case with government and local authorities who will usually require their suppliers to have at least £5 million of public liability cover.

The level of risk

What is the amount of exposure your business has to members of the public and the possible extent of compensation claims. Think about the type of work you do and the way your business interacts with people. You should also consider the costs involved in repairing any damage caused.

Trade Bodies or Associations

Many trade bodies and associations will require their members to have a particular level or limit of cover, if in doubt you should check your membership details.

Who needs Public Liability cover?

Public Liability cover provides protection to businesses in the event of compensation claims due to injury to members of the public or damage to property.

Liability insurance is popular with businesses that come into regular contact with members of the public such as shops, salons, pubs & cafes, or tradesman who work at customer properties.

Find out more about who needs public liability cover

What types of claims can Public Liability insurance provide cover for?

Public Liability insurance can cover compensation claims made against you for injury or property damage to third parties such as your customers, suppliers or any other member of the public who comes into contact with your business.

See more examples of Public Liability insurance claims

What types of liability cover are there?

There are several different types of liability cover which are designed to provide cover for claims such as injury to members of the public or employees, damage to property, liability for landlords or indemnity cover.

Find out more about the types of liability cover available

How can Lloyds Bank Business Insurance Services help you protect your business?

We know your business is important to you, and keeping it safe and secure will allow you to focus on the important day to day tasks.

To help you do this we have chosen to work with Arthur J. Gallagher Insurance Brokers Limited, one of the UK’s largest insurance brokers.

This service will provide you with access to specialist insurance advisors who will search a panel of leading insurers offering a range of products. To get you the cover you need at the price you want.

Public Liability for Tradesmen & Self Employed

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If you’re not sure what you need, call to speak to experienced Public Liability advisors.

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Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500

Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.