04 Jul 4 Reasons Why Every Business Needs Public Liability Insurance
If you have any question regarding the importance of public liability insurance for your business, then you need to watch this video of a man whose wife was killed in an escalator accident.
Apparently, the covers at the top of the escalator were loose and when this woman and her son reached the top of the escalator, she stepped on an unsupported edge and was then swallowed by the escalator’s mechanism.
Her son escaped unhurt, thanks to the deceased mom’s last-ditch efforts to help him skip the deathtrap. The shocking video demonstrates that importance of public liability insurance kenya. The accident put the owners of the mall in a vulnerable position.
The family of the woman had the option of suing the mall for negligence. This could damage the reputation of the mall and could easily drive the mall out of business.
Here are four quick reasons why every business needs a public liability insurance in Kenya.
It impossible to prevent all accidents
Accidents are accidental. It is possible to work hard to reduce the risk of their occurrence, but is it impossible to completely eliminate them. That why you need a policy to take care of any eventualities should an accident happen.
An accident in your premises can lead to reputation damage
When an accident occurs in your premises, you are better off telling the public that you expect your customers (or any other member of the public) to be taken care of by your insurer.
It communicates a sense of forethought and can actually serve to improve the confidence of the public in your business. The absence of such safety nets make people feel unsafe and they may be unwilling to come into your premises in the future.
Also Read: What Is Professional Indemnity?
An accident in your premises can lead to lawsuits and financial ruin
In the case of a large-scale accident in your premises, lack of public liability insurance can lead to expensive lawsuits and financial ruin. When an accident happens in your premises, you are immediately exposed to any number of lawsuits and claims from the victims.
In the absence of a strong public liability policy, you may find yourself at the mercy of ambulance chasers and will soon end up in financial ruin. A policy can greatly help if you are ever faced with a liability concern.
Public liability premiums are affordable
Finally, you need not spend much on public liability insurance because the premiums are highly affordable. You can compare insurance quotes for this and other classes of insurance on our website.
You will find that public liability insurance is too affordable not to have, yet not having it can be a very expensive situation for you.
Have you ever walked into a shop or office with a very slippery floor and was afraid you would slip?