Every type of business has to deal with exposure to all sorts of liability concerns, many of which are important issues to consider. At Daniels Insurance, they take the time to assess the effectiveness of your current general liability insurance needs and work to ensure you have the right policy for your operations. This can obviously vary from one business model to the next, depending on the type of business you have, the scope of your operations, and even where your business is located.

The purpose of liability insurance is to protect a company’s assets and pay any obligations incurred in the event that someone, outside of an employee, gets injured while on your property. This includes situations where there are property damages or injuries caused by you or your employees. Liability insurance covers the cost of medical bills, your legal defense, and any settlement or award given to a plaintiff in the event that you are found legally responsible for damages. The policy is written to cover claims arising from false (or misleading) advertising, including issues such as libel, slander, and copyright infringement.

You might want to consider the need for an umbrella policy

Umbrella insurance is designed to provide coverage over and above your liability policy limits. Take some time to examine what your perceived risks are, as well as the type of exposures you may routinely face while operating your business. This can help you to determine how much coverage you actually need and whether you should purchase a commercial umbrella policy to provide this vital additional coverage.

Product liability is of equal importance

Depending on whether you sell or produce products, there may be a necessity for you to have products and completed operations insurance for any related exposures. This is usually covered under your general liability policy in case you face a claim of bodily injury or property damage stemming from a product that fails to perform properly.

Daniels Insurance will help determine the best solution for your company, with the option of buying general liability coverage separately, or as part of a Business Owner’s Policy (BOP) which bundles liability and property insurance into one policy. Talk to an agent who specializes in this line of coverage.