What are the benefits of having a higher public liability limit?
Peace of mind that you have sufficient cover in place not just the minimum required by law.
A lot of companies will ask for higher limits particularly if they are well established. Typically this is around the £5m limit. We have heard of some local councils asking for £10m cover though.
If you decided to go for the lowest limit of £1,000,000 and someone made a claim against you which exceeded this amount then the shortfall would need to be made up by you and your company potentially making you bankrupt.
Another positive of having a higher limit could be using this to gain more business, remember reading above that some clients may request at least £5m liability. Why not turn this into a marketing idea when pitching for work? If you are up against another operator who hasn’t got as much liability cover, this could be the deciding factor on who they select for the job.
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