The right insurance coverage can make a world of difference when it comes to providing a business owner with peace of mind. Covering all of the risks of your industry can be challenging, so it is vital that you review the ins and outs of various policy options in order to discover the most appropriate fit for your needs. In some cases, general liability coverage will be enough. However, there are some circumstances where a more specialized policy like public liability can be the right choice to go with.
What Is PLI?
Unlike general liability insurance, public liability insurance is meant to cover more specific issues that business owners may encounter. For example, the policy usually protects business owners and their assets from losses that stem from a variety of commonplace problems like accidents that result in bodily injury or property damage. Public liability is usually referred to as a type of insurance that businesses start with, as it covers a number of the more important risks that are likely to be encountered. Other insurance areas to consider include:
- Commercial auto coverage
- Directors and officers liability
- Workers’ compensation
Picking the Right Coverage
To create a robust insurance plan that accurately reflects your risks, you need to weigh out the options available to you. Take a closer look at PLI to see how it stacks against general liability policies and gain some insight into the matter.