Do you need Construction Insurance? The construction i industry contains hazards therefore you’ll need to protect yourself and the public if things don’t go to plan. That is to say, if somebody makes a claim against you then public liability insurance will give you the cover you need. That is you would be covered for your legal fees and any compensation you may need to pay.
A Public liability policy isn’t a legal requirement but if you don’t have it and someone makes a claim against you, the impact on your business could be very damaging. After all, accidents can happen, even if you have the necessary health and safety procedures in place. In short, public liability insurance can cover your business from more than just financial costs. In addition, it can be vital when securing new contracts. Public liability insurance can be an essential requirement for customers – some won’t consider using you for building work without it. For example, local authorities tend to ask for a minimum cover of £5 million before you can tender for work.