SignElite

Liabilities – does your Insurance cover you?

Whatever the size of your business, you will, or should have this cover as an absolute minimum. The following discussion is generalised and as always your circumstances or requirements are specific to you. We will try to highlight the areas where problems tend to arise that we see every day at SignElite.

For many, starting out in business is a large expense, and insurance is not always at the forefront of your mind. If you’re starting out purely as a sign erector without premises and employees, Public Liability is your absolute minimum requirement. The following looks at the basics.

Liability in loose terms will cover you for the loss, damage or injury to a third party, there is of course more to it than that.

This is where you have to be careful about the type of policy you chose. The main areas of concern are the restrictions some policies impose. Check if you have a premises restriction, this is a common one on many policies. If you do, then read it carefully. The wording on your policy will tell you the types of premises you can work on or at. Usually shops, and offices are ok but you may find it does not include Commercial premises such as a factory unit. This does not apply to all policies of course but is worth checking.

Other areas you need to be aware of are Application of heat, you may have a heat exclusion, (yes, use of your hot air gun could very well be excluded away from your business premises) so unless you are planning on peeling the vinyl off with your nails it might be worth checking out. This is not the insurance police saying you can’t use them at all, but they are saying that if you do use them then any resultant damage would not be covered.

So, check with your Specialist Broker if you are not sure.

Keep Blogging as ‘Liabilities’ will be continued in the next post……….. 

The above is for information and guidance only and should not be relied on for individual circumstances and professional advice must always be sought specific to your individual circumstances and requirements. Finally any and all comments referred to anywhere on this site is for the United Kingdom (UK) market only.