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The Importance of PLI

pli

The Importance of Public Liability Insurance

Many newly formed bands and acts don’t relaise that a good public liability insurance policy could save you a whole heap of financial problems in the future. Of course I know you don’t want to read a boring article on insurance, but it is something that is very important and could save you tens of thousands of pounds one day.

What is public liability insurance?
PLI is a type of insurance cover that would protect you if a customer or member of the public were to suffer a loss or injury because of your band or acts activities, should those people ever decide to make a claim for compensation. The PLI insurance would cover the compensation payment plus any legal expenses, which you may incur through legal proceedings.

So how could this be relevant to your band or act?
Imagine you are setting up for a gig, as you begin unloading your equipment you leave a pile of cables by your van and take some equipment into the venue. When you get back, someone has tripped over the cables. They have a polite chat with you and say no worries. A week later, you get a letter through the door from a solicitors putting in a claim for injuries caused from the fall. The PLI would cover all of the costs involved in such an incident.

Are there any other benefits to having public liability insurance?
Some councils, venues and even promoters won’t let you perform until they have seen your public liability insurance certificate. So it could help you get gigs and also drive additional gigs your way if you display a list of insurances you hold on your website.

How much does public liability insurance costs?
Policy prices vary and just like any insurance policy you need to shop around. But, you should expect to pay between £10.00 – £15.00 per month for £2,000,000 worth of public liability cover.

Can I get public liability insurance free?
Nothing comes free, however if you join the musicians union then you automatically get covered for up to £10,000,000 worth of public liability cover as well as other benefits. – I am in no way endorsing the musicians union and have no affiliation to them but if you want to read more about them, then you can visit their website HERE.

I hope that you now have a better understanding of public liability insurance and how it could be of benefit to you. You may also find this article on professional indemnity insurance.

 

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