Self Employed Public Liability Insurance Tips

If you run your own business, and deal with the public, clients, or customers on a daily basis, you are at an incredible risk, even if you don’t realize it.  Getting a good self employed public liability insurance policy can determine whether your business is alive in 10 years, or if you are trying to recover from bankruptcy.  People are greedy these days, and if they find out you have a business that is profitable, they are going to attempt to get whatever they can.

Friends and close clients are the same way.  Just because they are your friend one day, doesn’t mean that they aren’t going to “milk your insurance company” the next day.  They don’t see it as hurting you, because they automatically assume you have insurance to cover these types of catastrophes.  If you don’t, it’s too late.  The process is already in motion, and your one time friend is getting rich off of you.

Anything can happen when you are self employed.  You could have a client trip over an entry way into your home or small office, and break an ankle.  You are then held liable instantly for their medical bills, emergency room, and private doctors bills.  Even if you have public liability insurance, you are still going to have to foot these bills until the claim goes through.  You have to make sure you are prepared for this, and if you had already purchased a good policy for self employed people, you would know that you need a reserve for these types of incidents.

Not only could a client or customer fall in your store, home, or office, but you could have some skateboard kids run out in front of you while you are driving, with your advertisement on the back window of your car, and even though they are at fault, you caused them to fall and break an arm.  Even worse, there are a lot of witnesses, and the parents are going to be heated.  This means they are coming after you personally, and your business is going to take the greatest hit.

In cases like these, as I said, if you had already purchased a good public liability insurance policy for self employed people, you would have known to have a reserve account.  This account is going to help you cover their expenses until your broker or providing company can intervene.  Make sure you choose a reliable company, because the longer it takes for claims to be handled, the more money that comes out of your pocket.  Start looking around for a good public liability insurance broker or company.