Public Indemnity Insurance


#1

Whats the consensus on the level of protection to take out?

Thanks!


#2

Depends a bit… usual level for pubic liability is £1million. But let’s say you visit clients in their top of the range lab and have a propensity to spill coffee… you might want to up it! Public liability is for injuries or damage which you or your business cause. So that might be the postie delivering business mail and tripping on your path, or maybe you plugged your laptop in at Costa and it burned the place down. The cost of this is usually only £30/year, so it’s not a massive amount to add onto the policy overall.

Professional indemnity is for claims against the work you’ve done - so let’s say you have a typo on a medical letter and it kills someone; or you send out a mass email discounting their product by 100% not 10% or you advise your client to invest in a system only to find out it doesn’t work the way you thought it did… You need to think about what impact your mistakes could have on the clients: not only how much they would cost to fix but also the legal costs involved. Usually the professional indemnity part of your insurance will make up the bulk of your payment. Again, £1million seems standard, but you might want to increase this if you are typing multi-million pound property valuations or medical advice.

Bit more advice here: