Everything You Need to Know About Public Liability Insurance in Singapore
Protecting your business should be the top of your priorities regardless of the size of your business. But what exactly does it mean to protect a business? Well, protecting a business means doing everything from having insurance to ensuring that your business environment is safe and secured.
The focus of this article is going to be on protecting businesses by insuring them. As you likely know, insurance is one of the best ways to protect a business from unexpected events like accidents.
Presently, there are several types of insurance available for small, medium-sized, and large businesses in Singapore. Because of the never-ending changes in the business terrine in Singapore, smart business owners are opting for public liability insurance. Want to find out what it is all about, and why they are choosing it over others? If yes, you are going to benefit from this article.
This article by Businessdictionary explains what liability insurance means.
Policies that covers civil liabilities to third parties, arising from bodily injury, property damage, or other wrongs due to the action or inaction of the insured. It covers only civil liabilities and not criminal liabilities. Read more here.
You likely now have a clear picture of what liability insurance is all about. You also now know a handful of businesses that can benefit from it. But do you know what it covers and doesn’t cover? If you don’t, you are going to benefit from the next article, as we will be taking a close look at what Public liability insurance is all about.
The following article by Adrain Mak contains basically everything you need to know about public liability insurance.
What Does General Liability Insurance Cover?
General Liability Insurance, also known as Commercial General Liability Insurance, protects your business financially from lawsuits and damages that arise while doing business. It pays for bodily injury and property damage that is unintentionally caused by your business. Read more here.
You likely now know that Public liability insurance can protect against everything from bodily injury of clients or customers in the business area, lawsuit and damages, and many more. You also now know the benefits associated with it. Even after knowing all these, the question that is likely going to be lingering in your mind is – Do I really need it?
This article by Quora sheds light on some tell-tale signs that you need public liability insurance.
What is public liability insurance, and do I need it?
The word insurance is almost or all the most familiar to all people of the world. There are many types of instances of policies available in the market today. The type of these insurances varies from one to another. Read more here.
You definitely now know some obvious signs that you need public liability insurance. You also now know what you will benefit when you opt for it, and how much it is going to cost you to get it. The bottom line is that PLI is a brilliant business investment that will save you from a lot of trouble in the event of an emergency.
Public liability insurance is becoming popular among small and large businesses in Singapore. The reason for this isn’t just because of its policies and what it protects against but it is because the business terrain in Singapore is changing.
Since the risks associated with running a business has dramatically increased over the last couple of years, it is critical for small and large business owners to opt for some sort of insurance.
Yes, doing this may be difficult, and may even cost you a lot of money, but if you can do it, you can be confident that your business will be secured when an unexpected event occurs.