What is office liability insurance?
Liability insurance simply means protecting yourself or your business against the risk of something going wrong. Even in the safest of office environments, accidents can unfortunately still happen. Without the right office liability cover in place, you could find yourself facing hefty legal bills or compensation costs.
Let’s take a look at what you need to know about office liability insurance.
What type of liability cover do offices need?
Public liability insurance
If somebody hurts themselves whilst at your office premises, you could be held liable. For example, if a client or visitor trips on the stairs and hurts their ankle, they could claim compensation.
Public liability insurance protects you in situations like this. The policy will cover legal costs and any compensation ordered. It also covers any damage to the property of members of the public. So, if someone’s car is damaged whilst in your car park, or you spill coffee on a visitor’s suit the policy will cover the repairs.
Employers’ liability cover
It’s not only members of the public who might be accidentally hurt at your office. An employee might bring a claim if they are injured or hurt whilst at work. Employer liability insurance is a legal requirement if your business employs any staff. It’s there to protect you (and your team) if something goes wrong and a claim is brought.
It’s worth noting that even ex-employees might still bring a claim against you, so it’s important to make sure you keep your policy up to date.
Professional indemnity cover
If your business offers any kind of professional service or consultancy, it could be worth investing in professional indemnity insurance.
This type of policy protects you against financial loss if a client claims that you have been careless during your work. For example, if you offer design services and make a mistake on a print run which means your client needs to pay for a reprint, they could hold you liable for the cost.
Frequently Asked Questions
What level of public liability insurance do I need for my office?
Public liability cover usually starts at £ 1 million. Depending on the nature of your business, you could choose to take out extended cover for either £ 2 million £ 5 million, or even £ 10 million.
My office is staffed by volunteers. Do I still need employers’ liability cover?
Yes. Employers’ liability cover is a legal requirement even if your staff are unpaid, or volunteers. Even if you only have a few members of staff, the unexpected can still happen, so you need to make sure you have cover in place.
How do I arrange office liability cover?
It’s a good idea to shop around and compare quotes before committing to a policy. Your insurer will want to know a few details about your business in order to arrange a policy. These may include things like the size of your business, where your office is located, how many staff you employ, what type of equipment you use and the nature of your business.