The purpose of public liability insurance is to protect members of the public as well as any customers that may come visit your business property. Despite all good intentions on your part, things do happen unexpectedly. Your business visitors could get injured while on your property. If such thing happens, they are entitled to make a claim against your small business. Regardless of the business types and niches, all are liable.
A public liability insurance will cover any damages caused. Additionally, this insurance coverage will help recoup fees, expenses and costs that could cost your business a fortune when faced with such a claim; if your business visitors are injured and requiring medical attention you will also be liable for these expenses. Again, public liability insurance will protect you from these costs.
Without proper public liability insurance coverage, the small business will be entirely responsible for paying for all expenses. These can be significant costs. Some larger businesses can probably absorb these costs. However, small businesses simply cannot. This is especially so in the beginning when one is simply trying to get their small business off the ground and running. Also, some clients will not do business with small businesses if they do not have appropriate public liability insurance coverage.
Obtaining proper public liability insurance coverage is essential for any small business. When taking out coverage, your insurer will advise you on appropriate amounts of coverage.