What can business liability cover?
It can cover insured third-party claims for bodily injury and property damage, and defend against unjustified claims. Insured activities, consequential losses and extensions depend on the policy wording.
Business or professional liability?
Advice, planning and IT services can cause pure financial losses. Business liability does not automatically cover these. A professional liability or specific financial-loss policy may be needed.
What affects the premium?
Activities, turnover, payroll, limit of indemnity, deductible, claims history and geographical scope influence the quotation. A blanket price without these details would be unreliable.
What we clarify before requesting a quotation
Main and secondary activities, work on customer property, rented premises, products, subcontractors and contractual requirements. Damage to your own property, rectification of your own work and intentional damage are not automatically insured liability risks.
Examples from everyday business
Bodily injury
A customer trips over an unsecured cable in your shop and is injured. Your liability and the agreed cover need to be assessed.
Damage at a customer’s premises
During installation, a tool falls and damages the customer’s floor. The policy needs to address work on third-party property and any applicable damage arising from that work.
Rectifying your own work
A job was carried out incorrectly and has to be done again. The cost of correcting your work must be distinguished from additional damage to someone else’s property.
Fictional examples for illustration, not confirmations of cover. The circumstances, insured activities, policy, deductible and terms determine coverage.
Frequently asked questions about business liability
What is not automatically covered?
Damage to your own equipment, rectification of your own work and pure financial losses without bodily injury or property damage are not automatically covered by business liability insurance. Cover for property being worked on, rented or entrusted to you also needs to be checked.
Are employees and subcontractors insured?
Check which people and activities the policy includes. Work performed by employees must be distinguished from the liability of independent subcontractors. Tell us about outsourced work and any additional activities.
What is the difference between the indemnity limit and the deductible?
The indemnity limit caps the insurer’s payment as agreed in the contract. Lower sublimits may apply to particular risks. The deductible is the amount you bear yourself for a covered claim. Compare these terms as well as the annual premium.
What information is needed for a quotation?
Useful information includes all business activities, turnover, payroll or employee numbers, previous claims, the desired start date and existing insurance. Mention work abroad, third-party property and requirements imposed by your customers. A brief description in the form is enough for an initial enquiry.
Am I insured as soon as I submit the enquiry?
No. The form is a non-binding request to assess your needs. The insurer, cover, premium and start date must then be agreed on a binding basis. We clarify the scope and any costs of our advice before a binding engagement.
