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Do you build up NCB on commercial business insurance?
No. Although you don’t earn a physical NCB like on your car or van insurance, insurers do take claims history in to account and can sometimes apply discounts for a good claims experience and similarly will load a premium for a bad claims experience.
What is the average amount of public liability I need?
There is no “average” amount for public liability insurance. The limit of public liability insurance you choose should reflect the size of your business and always be adequate to cover the worst possible scenario for a claim that you could cause. For example, a tradesman working solely on empty domestic houses with a total value of £100,000 far away from any other third party person or third party property which they might injure or damage, might consider a lower sum insured than a tradesman working on a school with a £2,000,000 value whilst there are children in attendance.
What is employer’s liability?
Employer’s liability will cover costs and rewards incurred by you through claims brought against you for the injury of an employee or damage to employee’s property for which you are legally liable.
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