PLI insurance

Public Liability Insurance: Coverage for the Public

If you run a business that frequently interacts with those who are not your employees or others who work with you, then there can, unfortunately, be accidents where a customer, delivery person, visitor or other member of the public is affected. This can create a disaster for all involved. Financial losses then occur if you have to pay out of pocket, which can be devastating for a small business. However, PLI insurance can be a safeguard for such situations.

What Is PLI?

Public Liability Insurance (PLI) is a type of coverage which focuses on covering the damages caused to members of the public while within your premises or interacting with your business in one way or another. PLI insurance often covers three distinctive areas:

  • Property Damage
  • Physical Injury/Medical Bills
  • Legal Fees for Claims

Why PLI Is Vital for Small Businesses

When discussing liability insurance, most may think of General Liability Insurance (GLI), which often includes PLI within its policy while also covering cases involving members of your business and those who work with or for you. However, GLI can be quite costly for small businesses, making PLI insurance a preferred option for its economic benefits. PLI also involves those who are perhaps more out of your control, meaning there is a higher risk, so it may cover everything you need if you are unable to pay for the premiums of GLI.