Professionals Liability - The covers you may need to consider
1) Public Liability Insurance ? there are many ways that a building firm large or small could need to call on their professionals Liability Insurance Policy: a) Death or injury to another person while you are working on a contract. b) Damage to other peoples property. c) Obstruction, nuisance, trespass, right of way, interference air, light, water.
In the main the Professionals Public Liability policy is to help you defend themselves against any allegations or wrong doings to a third party and in the event that it is proved that the you were indeed negligent, and had either injured or caused damage to another the Public Liability Insurance would pay damages awarded up to the level of the cover you have chosen. Most Public Liability policies start from a minimum of £1,000,000 but it would not be uncommon for a professional to have £5,000,000 cover, particularly if the professional was working on larger projects.
Of course the Public Liability Insurance policy can be extended from the basic type of covers offered to include:
a) Health and Safety at work ? Legal defence costs
b) Motor Contingent Liability
c) Movement of obstructing vehicles
d) Bona-Fide Subcontractors
It is also a very good idea for a professional to have a Contractors All Risk policy. This would cover the professional for mistakes on the clients own goods being worked on and also things like materials on site etc. This type of policy can be brought as a package to include Public Liability and other types of risks that a professional faces in the day to day running of their business.
