Public liability insurance in Singapore is designed to provide peace of mind for our business. If we run a company that deals with the general public then it is in our interest to invest in public liability insurance, which will cover us for any accidents to members of the public, damage to property that occurs as a result of our business activities and legal fees for claims made against our company.
Whilst, not a legal requirement, it is wise to take out public liability insurance if we are selling a product or service to the public. Should someone have an accident or become injured at our place of work, the insurance will protect us and our company against any compensation payments and solicitor fees.
A lot of businesses, unfortunately, do not see the value in having public liability insurance and leave themselves open to many financial hazards if legal action is taken against them as a result of any workplace accidents. Do not leave such matters to chance – public liability insurance offers peace of mind against such eventualities.
Public liability insurance is a must-have for any farm. It will make sure we are covered if a member of the public is injured on our farm or if we are responsible for damage to another person’s property.
The importance of public liability insurance
When thinking about members of the public on our property, diversifications like farm shops, campsites or farm gate sales spring to mind. But even if we do not have one of these income streams, members of the public might visit our farm for other reasons. For example, are we covered if a delivery driver or a contractor injures themselves on our property?
We will also need to be covered if our livestock escapes and causes injury to an individual or damage to property. The high-cost claims came not from the death or injury to the animal but injury to members of the public or damage to their property. Fortunately, in these instances, our customers had public liability cover.
Public Liability insurance can cover us for:
- Accidental injury to others
- Accidental loss of accidental damage to someone else’s property
Things to think about
- Typically a standard farm insurance policy will cover us for up to £5 million in respect to one incident or during the period of insurance. However, higher levels are available on request.
- Even if a member of the public is on our property without permission, we could still be liable.
- Public liability insurance does not cover us if something happens to an employee (even workers who are just helping out temporarily). We will need employer’s liability insurance for this.
- We could be liable for an incident that occurs away from our property. For example, if a member of the public is injured as a result of mud on the roads from our vehicles or even a vehicle used by one of our contractors.
While helping our customer herd some straying cattle off his farm and back to their home, a neighboring farmer sustained an injury which resulted in a claim against our customer. This was covered under his public liability insurance. To find out more about our NTUC personal accident insurance in Singapore click here.