Take a look at the world of car insurance and use it as a barometer for public liability insurance. Just in the same way that car insurance places an emphasis on you, as the buyer, to do the necessary research required to ensure that you do not end up paying too much, public liability insurance policies also vary immensely.
it is down to you to make sure that you don’t end up with a public liability insurance policy that is expensive, or a public liability insurance policy that is ostensibly cheap, but leaves your business vulnerable because the level of cover it provides you with is wholly inadequate.
The best way to ensure that you end up with the requisite level of cover, at the right price, is to know what questions to act. When you know what level of cover you need you can ask prospective providers exactly what they can offer you. If a provider is unable to answer these questions then you will know to get your public liability insurance elsewhere.
It is relatively easy to tell when you are dealing with a professional company because they too will have plenty of questions to ask. They will want to know exactly how your business functions and how big your business is, so that they can give you the right level of cover. Sometimes it can be a bit of an assault on the senses, and as though the insurance company is prying, but the more a provider asks, the better the cover you receive from them is likely to be.
Be wary of internet companies that you have never heard of, offering public liability insurance at a price that is too good to be true. If you run a big operation and a company is offering you public liability insurance at a pittance, then this should send alarm bells ringing. This is why it is important to do your research and get as many quotes as possible. Again, car insurance is a good way of gauging the legitimacy of an insurance provider. If you had a car to insure and all the top providers were offering you cover ranging between £500-£750, and there was one company you’d never heard of, offering you cover for £60 a year, then you simply wouldn’t be prepared to take the risk of purchasing a policy from this company.
If you get ten quotes and nine of the companies are offering you public liability insurance policies that range between £800-£1000, and one company is offering you a policy for £70, then there is clearly something amiss. It is one of the downsides of how easy it has now become to create a website, so do not allow yourself to get duped with a policy that doesn’t even exist. Whilst there is a certain degree of flux when it comes to the amount you are quoted and the level of cover that each quote provides, there are no companies out there that can undercut all their competitors to an extent whereby you pay less than 10% of what the nearest competitor is charging, so beware.Get quotes