The Contrast Between Public Liability and General Liability
As the owner of a business, you will need some form of liability insurance to protect your property and cover your responsibility after an incident. Generally, you will have the option to choose between public and general liability insurance. Learn more about the differences between public liability insurance vs general liability to choose the best policy for your business.
Public liability insurance has a more limited scope, as it specifically covers loss, damage and injury caused by or involving the general public or third parties. These individuals are generally clients and visitors. This coverage is relevant if you own a business that the general public has access to, such as a retail store or a restaurant. It covers less than other plans, but it is also an affordable, basic option.
In contrast, a general liability insurance plan offers much broader coverage. In this policy, not only is the business liable to injuries and property losses involving the general public, but also the company’s employees. Additionally, it covers other situations, such as workplace injuries caused by negligence, malfunctioning products and other cases of property loss. This policy also includes medical and legal costs and costs more than the public.
Now that you know about the benefits of public liability insurance vs general liability, you can select the best plan for your business. Consider your property, clientele, and scope before choosing your insurance.