You need liability insurance if you need to be covered for an event where you may be held liable for injuries to a third party. These instances include malpractice suits, personal injury or negligence. If you have this type of cover, it will cover all legal fees and also any payouts that you may be ordered to make if you are found to be by law liable.For more details you can check private landlord insurance website
There are various types of liability policies that are available. If a person is injured or there is damage to their property which was caused by you or by your business, and you have public liability cover, your costs will be covered. This cover will provide for medical expenses, legal fees and any other related costs in respect of the injury or damage.
The premiums for liability cover will be based mostly on the type of business you run. It will normally be based on the turnover of the company. There are exceptions to the rule and you will have to ascertain the basis that will be used when you discuss it with your broker.
If you have product liability cover, the claims against you for damage or injury caused by a product that was supplied by you will be covered. A claim could be instituted by a third party if you supplied the product, even if you did not manufacture the product. The instances where you will be held liable include cases where the name of your business appears on the product, or if you refurbished, changed or repaired the product. In cases where the manufacturer is not in business any longer, or you cannot identify the manufacturer, you will be liable.
Property owners insurance covers costs that may have to be paid to somebody who has suffered injuries during an accident on your premises. This type of cover is usually contained in household policies of private property owners. This type of cover will normally be included in public liability policies of business owners.