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Edward Said:

How much does public liability insurance cost?

We Answered:

Your not alone! In your field and with the Technology of The Web their are many businesses using IT to to bring in the Bacon...IN FACT Many insurance markets have researched and developed IT professional liability programs just for you!

Depending on what type of Info "and" advertising you do the premium could vary . I just wrote a Professional Liability policy for a website business specializing in sports gear and "how to" educational topics on the sport they represent.

What you would need in this case is 'Media professional liability"/ This covers your Errors and Omissions on the info you are putting out there. The basis of this is .....

1. What are you offering
2. Do you have any contractual agreements with any "Brand names?"
3. Do you have any disclaimers on your web ( ie : for Informational purposes only" etc.
4. do you sell a product?

Things like that.

I would contact a Independent Agent who has Various Excess/surplus lines markets. ask them about IT professional liability specifically Media professional.

The cost for my customer was $5,200 per year. (again..they were not only offering information but also selling a product.

GOOD LUCK!

Dean Said:

Public Liability Insurance for a wedding reception?

We Answered:

You definitely need to call your insurance agent on this one. Many homeowners insurance policies will cover this type of event without an additional charge because it is already covered by the personal liability portion of the policy. BUT this is not universal, some companies exclude off premises rentals.

If you do not have a homeowners policy or have a homeowners policy that will not cover your off premises (away from your residence) reception the cost will be in the neighborhood of $500. with additional premium if liquor is be served.

Barry Said:

public liability insurance?

We Answered:

Contact a UK broker that can provide a commercial package policy that covers your business property and business liability. Depending upon the value of what you are selling you might also ask about a transit policy to cover what you are shipping.

Ricardo Said:

Is 5 Million Dollars the lowest amount you can get for public liability insurance?

We Answered:

You can buy as little as $100,000 BUT the whole reason you are buying Insurance is to protect YOUR assets in the event of a claim. So you might not cause more than $50,000 in physical damage to someone's property, but what if that person sues you for say $1,000,000? This might sound unlikely, but just look at the ads on TV from Law firms advertising their services. You can get sued by anybody for anything if they can find an attorney willing to take the case. Your insurance policy is there to protect YOU. Let's say you purchase $100,000 in liability insurance and you do somehow cause $50,000 worth of damage to someone's property. They hire a lawyer and sue you for loss of business income and anything else they can think of. Where is the money going to come from to pay for your legal defense? You have $50,000 left in your insurance which will soon be used up in paying your legal fees and you haven't even gone to court yet. Now suppose the customer wins and you have to pay $150,000 to them for loss of income (they couldn't generate any income while they were closed due to the damage you caused). Your insurance limit is all used up so now you kiss goodbye to your car, your home, your bank account and any other assets (including your business) they can find.
You need to purchase at least $1,000,000 in Liability coverage to protect yourself. I'm in Texas and insurance for a cleaning company (I'm assuming that means Janitorial type work) can be purchased for under $1000 annually for $1Mil coverage, if you have a proven clean claims history it can be bought for around $500 depending on your payroll. Worth it for the peace of mind don't you think?