Who Needs Product Liability Insurance?

May 5, 2020

What do investors, manufacturers, distributors, suppliers and retailers have in common?

If you guessed product liability exposure, you are correct. Each of these business people share the risk of product malfunction or danger for merchandise put out to the public.

Here are five different but related types of insurance coverage that can shield a commercial enterprise from loss or damage as a result of error. The following forms of coverage can protect from a liability claim and lawsuit.

Product Tampering Insurance Coverage

Although a business making a product accessible to the general populace is not behind a tampering incident, it can be liable for damages. Product tampering insurance covers you in the event someone else tampered with or warned you of the possibility that a product may be corrupted.

Associated coverage extends to the following.

• Eradication of the manipulated merchandise

• Loss of earnings

• Expenses related to recalling … Read More

What Is Commercial Liability Insurance?

May 5, 2020

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Like any other insurance, this type of insurance provides a safety or compensation. You could need this type of insurance in cases when a client or a customer sues you for not handling his goods properly or for negligence. For instance, your employee brings in a suit and it gets dropped on the floor, your customer could claim for negligence. This will help the customer to get a compensation for such losses.

This insurance could also cover for bodily injuries of you employees etc. This policy helps you save time on the court and solve matters without getting involved in litigation and offers u a way to solve problems out of court. We could help you solve your problems by solving your problems out of court and looking after such problems. You don’t have to appear in courts. Your time is precious and we will offer a plan for such … Read More

Commercial General Liability Insurance Policy

May 5, 2020

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Business owners work extremely hard to operate, and need protection from unexpected accidents or liabilities, which could otherwise put them out of business. Commercial general liability insurance, or CGL, has been designed to keep business assets and resources protected and secured should a claim arise.

Overview

Commercial General Liability (CGL) insurance policies are a very important protection for policyholders, broadly providing defense and indemnity coverage against claims for bodily injury and property damage. CGL policies typically are written on standard policy forms developed by nationwide insurance industry organizations.

Significance of Commercial Liability Insurance

Operating a business in a litigious society like we have, greatly increases the chances of a potential claim or lawsuit. It is important for business owners to know they have protection, so they can focus on running their business.

A CGL policy takes the responsibility of covering the injury costs for you and your employees, as well … Read More

How Much Liability Insurance Do You Need?

May 4, 2020

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When most people consider their insurance needs, only certain types of coverage typically come to mind. Health insurance and life (or sometimes disability) insurance protect you and your loved ones; car and homeowner’s or renter’s insurance protect your major tangible assets.

Personal liability insurance, frequently called an “umbrella” policy, seldom makes this list. But when a rainy day – or an expensive lawsuit – turns up, sometimes nothing but an umbrella will do.

As the name suggests, personal liability coverage mainly exists to protect against claims of liability. In most cases, that means finding yourself, and your assets, the target of a civil lawsuit. A personal liability policy may seem like overkill for individuals who already hold three or four insurance policies. It is true that not everyone needs such protection. But an umbrella policy effectively defends your assets and future income against damage claims that can arise from a … Read More

Small Business Liability Insurance Quote Overview: Quick Introduction to Business Insurance Coverage

May 4, 2020

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All businesses, big and small, need commercial general liability insurance. There are many things that could put your finances at risk, and without adequate coverage, your entire company could be affected. Look online to learn the laws in your state and local jurisdiction to find out the minimum amount of insurance you need, and then conduct a search for a small business liability insurance quote. You can get multiple quotes at once and compare them to see which one offers the right amount of coverage for your business needs.

If you have any employees, the federal requirement will require you to have workers’ compensation, disability insurance, and unemployment. Keep this mind when researching policies and comparing quotes.

The best commercial insurance providers will have custom policies tailored around each type of business and industry. For those involved in the real estate industry, there are special “real estate” business insurance policies … Read More

Mobile Oil Change Business and General Liability Insurance Considered

May 4, 2020

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Not long ago, I got an email from a gentleman wishing to set up a mobile oil change business in Florida. He was concerned about what sort of insurance he might need and was under the impression that a 1 million dollar commercial liability policy was needed up and beyond his work truck vehicle commercial auto policy. Okay so, let’s talk about this; is he correct?

It turns out that he most definitely is, you see commercial auto is not the same as completed operations or the potential liability while working. For instance, if a car catches on fire that you are working on, your commercial auto policy isn’t going to cover it. Do you see that point? So, this is the advice I explained to him;

You will need most likely want to get a commercial insurance policy; $1 million aggregate, 300K per occurrence general liability, with a “garage … Read More

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Tag: Liability