Better Protection With Business Liability Insurance

Written by Michael on . Posted in Business Owners Insurance, General Liability Insurance

Business liability insurance offers protection to a business owner in case of a third-party claim or a formal lawsuit. Coverage comprises of financial liability incurred along with the costs related to the company’s legal defense. There are three kinds of business liability insurance: professional liability insurance, general liability insurance and product liability insurance.

Any kind of ownership, in a small business or a bigger one, especially a partnership or sole proprietorship places one’s personal finances at risk, especially in case of  a business-related lawsuit. Even those working under Limited Liability Corporation still stand exposed to personal risk. The aim of business liability insurance offers better protection as it is based on a legal structure. Just make sure that when you get additional insurance, unnecessary coverage.

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Business Coverage That You May Not Be Aware of

Written by Michael on . Posted in Business Owners Insurance

Business owners Policy is the most common policy that one comes across for small businesses. It offers cover for all the risks involved with liability and property insurance. However, business owners are not completely aware of other policy coverage. This is what we are going to shed light on this page.

Employment Practices Liability Insurance

The employment practices liability insurance takes care of damages that include violation of the civil or other legal rights of the employee. The insurance also takes care of legal defense costs too.

Errors and Omissions Insurance Liability

In some of the businesses, we often find services like making recommendations, offering advice, providing physical care, etc. This can often lead to being sued by the customers for any injury or damage to them that is claimed due to the failure of the business to do a job properly. The errors and omissions liability insurance take care of these situations and offers legal defense costs.

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Do you need Commercial Auto Insurance?

Written by Michael on . Posted in Business Insurance 101, Business Owners Insurance

Commercial auto insurance is different from regular auto insurance, as the insurance here covers the vehicle that is being driven or used for commercial purpose. The aim of the insurance is to protect business owners as well as their employees, if involved with an auto accident.

If you are running a business that makes use of vehicles for transportation or delivery purposes, like the car rental services, or food delivery business, you are expected to carry a certain commercial liability insurance.  The commercial vehicle insurance will keep your business protected from financial responsibility, in case of an accident. You will also need an auto insurance if you are a commercial driver. As a business owner, you should know the commercial insurance is carried by the business and does it include the Commercial auto insurance. If yes, then does it comprise of collision coverage, motorist coverage and comprehensive coverage. Once you have some clear answers, then you will have a fairly good idea about the commercial vehicle insurance you are carrying and if there is any need to buy more.

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