Benefits of Public Liability Insurance
public liability insurance policy covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury, loss or damage to the property belonging to a third party. The Public Liability Insurance is very useful in recovering for the damages happened due to the accidents that happen due to hazardous materials.
The legal cost and expenses incurred in defending the case with prior consent of the insurance company are also payable subject to certain terms and conditions. One can insure more than one unit situated in different locations under a single policy. Public Liability Insurance is mandatory to secure the losses.
The policy of Public Liability Insurance offers a benefit of Retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of the policy, also become payable.