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Most Self
Employed People Are Under covered ! A recent survey unveiled
that most sole traders or self employed people could only
afford to make their existing credit repayments for 3 months.
After that they couldn't afford the monthly repayments. The
amount of savings they had would only allow them to maintain
their lifestyle for 3 months.
© Copyright 2007 www.Self Employed Help .co.uk
~ All Rights Reserved.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS
ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. |
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Why Should You Have Self Employed Public Liability Insurance
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If you are self employed and you run a small business, there may be times when you need public liability insurance. It is designed to help you if a member of the public is accidentally injured on your premises and it is a must for any business which is open to the public.
The Advantages of Public Liability Insurance
Some self employed people do not consider the safety of their customers when they enter the premises. After all, what could possibly happen to somebody on your premises? Well unfortunately a lot could happen and if a customer was to be injured on your business premises you could end up being sued and taken to court for damages.
An example of why a customer may claim is if they come into your store, slip on something and really damage themselves. It would not be their fault as it is your task to make sure that your premises are clean, tidy and accident proof. You should constantly make sure that the floors are not slippery and if they have been mopped then always ensure that there are wet floor signs in place. However accidents do happen and that is why public liability insurance is needed.
There are different plans for different types of self employed businesses and you should always make sure that the insurer knows which type of business it is that you run. Also make sure that everything that you need is covered for example legal fees and any other expenses which may result from a claim being made.
As for how much cover you will need, all businesses are different but the average small business tends to have cover up to one million pounds.
Overall public liability insurance is important and it will cover your business in case anything does go wrong. Would you be able to afford potentially high legal costs if a customer did sue you and you didn’t have insurance? The answer is usually no so always make sure that you are protected for your own sake.
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