Occupiers insurance is another term for a kind of coverage that many people know as public liability insurance. The terms both refer to policies designed to protect you from the costs of liability for accidents or injuries to members of the general public when they visit your business. Essentially, they insure you as the occupier of the space, providing financial resources for legal expenses and claims. If this sounds a lot like what your general liability policy is for, you’re not wrong. General liability coverage includes provisions for occupier’s liability coverage, but it also covers a lot of other risks. As such, many businesses that expect a lot of traffic through their facilities opt for additional public liability coverage.
Additional Protection at the Right Price
Businesses with a lot of public liability risk have two options. They can extend general liability coverage, including all its other provisions they don’t need extra coverage for, or they can add a supplemental policy to provide extra coverage in just the right area. The same is true with companies that have a lot of risk exposure in other specific coverage areas that overlap with general liability. These additional policies typically require an existing general liability policy to qualify, which is part of the reason they are able to stay very cost-efficient.