What Is Public Liability Insurance?

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Basics of Liability Insurance....5

Public liability insurance is not a technical insurance term, but it does refer to liability insurance. Find out about public liability insurance with help from an experienced insurance professional in this free video clip.

Part of the Video Series: Liability Insurance
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Video Transcript

My name is Jared Morgan. I'm an Insurance Agent with Bradshaw & Weil and we're going to discuss public liability insurance. Now, public liability insurance is not a technical insurance term, but it refers to liability insurance. At its basic level, liability insurance is designed to protect a business owner or a home owner from a lawsuits or judgments made in a lawsuit. Now, if you get sued, lie, you are liable if you are negligent or if you operate in a, in a environment that requires absolute liability and there's some different issues there. But more specifically if you're liable, the court system has, had, someone has sued you and the court system has said you are due to pay judgments to the other person. There's two parts to that that can cause you money. Number one, you have defense cost. You got to pay a lawyer to defend you and number two, if there's a judgment against you. So, let me give you an example. If you're a retail store and somebody walks in to your store and you have a, a tripping hazard or a wet floor and you'd, so that, that customer steps in your wet floor and breaks her leg. You're probably going to be held negligent especially if you don't have a sign out that says the floor is wet. And so, if that customer sues you, then, you would probably be responsible for paying for their broken leg; you would probably be responsible for paying for any loss wages they might have and there could be other things included. Liability insurance at its basic level is designed to protect you from when you found negligent and pay for the defense cost up to the limits in the policy for, for any lawsuits you might get into or any judgment held against you in the court system. My name is Jared Morgan of Bradshaw & Weil, we're talking about public liability insurance.

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