If you run a small marketing business, you must have public liability insurance to protect your customers and employees from any on-premise injuries to avoid paying out of pocket. If an unwanted incident occurs, public liability can help protect you from going insolvent. Whether you like it or not, something can go wrong. Follow these smart choices to get maximum value from public liability insurance for your marketing business.
Plan Coverage For All Aspects Of Your Business
You should ideally choose public liability that covers all aspects of your marketing business. For example, as a marketing consultancy, it's likely that your employees travel to client offices. So if someone in your team damages your client's property, then your public liability insurance will cover the loss. Similarly, if you make a copy error in your marketing collateral, your public liability insurance will protect you against people suing you for providing inaccurate data. Similarly, if you end up marketing without proper research, then your insurance will protect a client from potential losses. You can easily get public liability cover to protect all aspects of your business, so take the time to consider all the risks before you establish how much you need.
Negotiate With Multiple Insurers For Better Value
As a marketing consultancy owner, you naturally want to protect yourself, but you also want to ensure that you get good value for money. While the cheapest policy may not cover what you need, you may be in a position to negotiate with multiple insurers. Make sure you not only check the premiums but also the features of the policy each insurer is offering. Many business owners make the mistake of thinking they can't get a cheaper deal by asking, but the truth is that with the right insurance broker's support, you may be able to get an insurer to bring down their premium without reducing any features in the hope of winning your business.
Find A Way To Bring Down Any Risks To Your Business
You can typically keep insurance premiums low with the least amount of claims, so make sure you find a way to bring down any risks to your marketing business. For example, check your floors regularly to ensure that employees and customers don't end up slipping and falling. Similarly, efforts like installing burglar alarms and data theft prevention strategies will reduce the amount of threats to your business, which can bring down your premiums over time.
Purchasing public liability insurance requires significant consideration, so use the choices above as good starting points.