Can I Customise my Public Liability Insurance Policy?

Public liability insurance can be very helpful for businesses, covering claims from third parties for injury or damage. However, every business is unique, so can you customise your public liability insurance policy?

Some people believe mistakenly insurance policies are one-size-fits-all, but they can actually be tailored to meet your specific needs. Let’s explore how customised public liability insurance can help to protect your business against risk.

Why customise your public liability insurance?

Businesses are diverse, and face wildly differing risks. Customising your public liability insurance policy means that you can ensure adequate, relevant coverage to suit your specific needs.

A benefit of this is that you don’t pay for unnecessary coverage. This means tailored insurance can save you money while covering you against the specific risks your business may face.

Customisation can help to safeguard against unforeseen events specific to your industry and organisation. It can be a smart choice for any business looking to boost its insurance strategy.

Customisation options for public liability insurance

There are a number of ways to tailor your insurance policy to better suit your specific business needs.

Coverage limits

Businesses can choose coverage limits that reflect the risks they face by considering factors like size, industry and client requirements.

Add-ons and extensions

Common liability insurances are also available including product liability, professional indemnity and employer's liability. Each can help address different issues faced by your business, ensuring you are protected against as many eventualities as possible.

Geographic coverage

Arranging appropriate Geographic coverage is crucial for businesses operating in multiple locations. internationally, safeguarding against location-specific risks. Please ensure you fully explain your business requirements

Specific risk coverage

Policies can be tailored for industry-specific risks, such as construction, healthcare and retail, with specialised coverage options.

Policy excess

Adjusting the excess on a policy usually affects the premium. Choose an appropriate excess level based on business finances and risk tolerance. An excess is the first amount of any property damage claim that you will be responsible for.

How to customise your public liability insurance policy

Here are some steps that you can take to ensure that your public liability insurance policy works for you.

1. Conduct a risk assessment

Identify unique business risks and coverage needs by evaluating your operations, industry and potential hazards.

2. Consult an insurance broker

Discuss customisation options with an insurance broker or provider to get professional advice tailored to your business.

3. Regularly review and update

Make sure your policy remains relevant by regularly reviewing and updating it as your business grows or changes. This keeps your coverage adequate and up-to-date, providing ongoing protection.

Customised public liability insurance from Towergate

Customising public liability insurance is important to make sure that your business is fully protected against unforeseen accidents or damage. It’s well worth considering the specific risks faced by your business, in order to tailor your coverage to be the best fit possible.

Get a public liability insurance quote

Take action to get your business covered today. Get a public liability insurance quote from us either online or by phone on 0330 818 9929.

About the author

Alison Wild BCom (Hons), FMAAT, MATT, Taxation Technician is a highly respected industry professional who has been working with and advising SMEs in areas including tax, pensions, insurance and marketing for over 25 years. She is a member of the Association of Accounting Technicians (AAT) and Association of Tax Technicians (ATT) and also has 20 years' experience as a residential landlord.

Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.