How much does public liability insurance cost?

Public liability insurance costs AXA customers, on average, £4.94* per month, or £60** per year.

Of course, no two business are the same and there are factors that affect the cost of your public liability insurance. Read on to find out more about these factors.

No two public liability policies will cost the same amount, as there are a number of factors that are taken into consideration when it comes to determining your price. In this guide we’ll break down the factors that influence the price you pay, so that you have a better understanding of how we’ve arrived at your price.

Your occupation

Different occupations have different levels of risk. So, depending on what job you have, your price is going to be different. Tradespeople, professionals, and retailers all operate differently, which changes their risk profile.

For example, a tradesperson poses higher risk for several reasons, such as increased exposure to the public, working from heights, digging up ground, or working with dangerous tools that could lead to injury if misused.

A consultant, however, poses less risk as most of their time is spent working from home or the office with little exposure to risk.

The risks of your occupation are an important factor to consider when it comes to your price. The higher your occupation's risk, the more risk you're exposed to. Greater risk exposure means you’re more likely to claim, so insurance companies are likely to raise the price of your policy to compensate for more frequent policy pay-outs.

Where you work

Due to various factors, some different areas of the country may warrant a difference in cost. As well the area in where your business is located, where you actually carry out your work also factors into the price.

If your business is on a large scale with multiple locations, then you may pay a higher premium. For example, if you work from home or a single office, your likelihood for risk is lower than those who work from a large multi-office building, shop, or those who visit their clients.

The level of cover you choose

With cover levels starting at £1 million and ranging up to £5 million, the level you choose will have an impact on your price. The more cover you have, the higher your premium will be.

How many members of staff you have

Simply put – the more employees you have, the more interactions you’ll be having with public, which means you’ll be taking on a higher level of risk. This is because with more employs comes an increased risk of public liability claims resulting from negligence or accidental injury.

For example, if you’re a salon owner and a stylist who works for your accidental cuts a customer when cutting their hair, you’ll be facing a public liability claim for their negligent actions.

Your turnover

A higher turnover suggests that you work with a large volume of clients, expensive contracts, or a combination of both. This means your risk factor for an insurer is higher.

It’s important to note, though, that turnover only affects the price of retail occupations.

Your excess

As with most insurances, the excess you choose to pay impacts your premium as you’re taking on more of the potential claims cost upfront. A larger level of excess will result in a small premium.

There are any number of reasons your price might have increased. If you’re interested in learning more about your changes to your business insurance premium then you can check out our handy guide.

In this article we’ve taken you through the different factors that can impact how much your public liability insurance costs.

Ready to get started?

*10% of our customers paid from £4.94 for ten months between July and September 2023 after an initial deposit. Interest applicable. For more details see our terms & conditions.

** 10% of our customers paid this or less between July and September 2023.