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  • FIRST POST
    PunjabDaPunk
    Public Liability Insurance vs Third Pary Indemnity
    • #1
    • 30th Apr 08, 9:46 PM
    Public Liability Insurance vs Third Pary Indemnity 30th Apr 08 at 9:46 PM
    Hi,
    I am currently teaching Bollywood dancing to school children and about to embark on a career of Will writing. For this I know I need Public Liability Insurance. However, I also own property for investment which is rented out. It has been suggested that I take out Third Pary Indemnity Insurance for this.

    Can anyone explain whether Third Pary Indemnity Insurance is the same as Public Liability Insurance? Or if not, what is the difference?

    I need to know what is essential to cover myself adequately.

    Kind regards
    PunjabDaPunk....
    PunjabDaPunk
Page 1
    • chappers
    • By chappers 30th Apr 08, 10:01 PM
    • 2,956 Posts
    • 1,708 Thanks
    chappers
    • #2
    • 30th Apr 08, 10:01 PM
    • #2
    • 30th Apr 08, 10:01 PM
    Third party indemnity insurance is usually to protect you in the case of professional negligence, whereas public liability would protect agaisnt loss,injury or damage to the general public caused by you.
    For example if you had an office and someone came in, tripped on arug and broke their neck.You would be covered by public liability.
    If however you told someone to put a certain clause in their will and it turned out you were wrong and someone else became the beneficiary then they could, claim against your indemnity insurance.
  • PunjabDaPunk
    • #3
    • 1st May 08, 10:06 PM
    Ahhh but.....
    • #3
    • 1st May 08, 10:06 PM
    Thanks for explaining that clearly however it was suggested that I take out indemnity insurance as a landlord. How could Indemnity Insurance help me as a landlord?

    Whilst researching public liability insurance for the Bollywood dance classes I saw that I could include will writing which I then presumed it to be for negligent advice or do you think it has to do with accidents as you described?

    Note : the will writing is as a freelance with no office.

    Kind Regards
    PunjabDaPunk
    • chappers
    • By chappers 2nd May 08, 6:07 PM
    • 2,956 Posts
    • 1,708 Thanks
    chappers
    • #4
    • 2nd May 08, 6:07 PM
    • #4
    • 2nd May 08, 6:07 PM
    Sorry missed the bit about you having rental properties, most landlords insurance will have a public liability part and an employers part the employers part is usually to cover against anyone else working in your property on your behalf in the situation where they may have a claim against you, the public liability part would be to cover against any claim by the general public or even your tenants.

    You would need public liability for both your will writing and your bollywood stuff but I would check first as it may/probably wouldn't cover you for professional negligence.

    For example as a builder my public liability covers me in case of a claim made by the public or personal injury to my clients, but doesn't cover me for accidental damage caused by doing something wrong in the line of my work, that is covered by a contracts works indemnity policy.
  • PunjabDaPunk
    • #5
    • 5th May 08, 9:13 PM
    Thank you.....
    • #5
    • 5th May 08, 9:13 PM
    Hi Chappers....
    That's made it even more clear.....

    Now, I am on the search for Public Liability insurance to cover the dancing and rental properties first.

    See ya.
    PunjabDaPunk
  • *MF*
    • #6
    • 5th May 08, 9:27 PM
    • #6
    • 5th May 08, 9:27 PM
    Caveat on what has been asked and posted so far ...

    The terms Public Liability Insurance and Third Party Liability Insurance are interchangeable in the insurance world - both refer to insuring against your legal liability for injury to others or damage to their property.

    They will be charged for by an insurer depending on the risk you represent, and because being a landlord and a dance instructor present entirely different risks, I think you may find (I could be wrong) that no insurer will issue one policy to cover both occupations - you will need one policy for each business..

    On the Will Writing aspect - there you will (no pun intended) be offering a form of professional advice, and one of the exclusions for a general Third Party/Public Liability insurance will be any professional negligence - so yet another type of insurance arises - normally called Professional Indemnity Insurance- and offers cover for any negligent advice you may give.

    Brief as the comments are I hope they help.
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