subject: Protect What You Worked Hard For - Get A Liability Insurance Quote [print this page] When you are a small business person, you will need to get a liability insurance quote to protect your business assets, as well as personal assets, in the event of a lawsuit. Of course, all businesses like to hope that they are never sued by a customer or an employee, but the risks become larger, the more successful you become. There is additional liability that can occur when you have employees in service vehicles and those that manufacture products always have to worry about product liability lawsuits. No matter what business you are in, you will be exposed to liability risks.
This is the main reason that you want protection from all risks like general liability, product liability and don't forget workmen's compensation insurance if you have employees. A general liability umbrella insurance policy may be required for many small businesses to ensure you have adequate protection. When a lawsuit exceeds the value of your business liability insurance, your personal assets may be at risk and there are many small businesses that should consider personal liability policies for ownership, to protect personal assets.
When you get your liability insurance quote, consider the liability limits that are set on the policy, when comparing premiums. Not all companies figure there rates the same way. You can reduce your premium by changing your deductibles and some companies will even take into consideration your credit rating as well as a clean record of claims. You can't forget to increase your coverages as your business grows. This means you should review your liability limits on a regular basis and get a liability insurance quote periodically to increase coverage.
Professionals need to be aware of other sources of liability, such as errors and omissions liability insurance or malpractice liability insurance. Even those in construction, Information Technology and other industries may have specialized liability risks. It's really important that you not try to hide exposure when getting your policy, you may get a cheaper policy but if something happens and your not covered you could lose all. You have to keep in mind that you will not be covered, in the event of a claim, unless your liability insurance quote includes that specific coverage. If you are in doubt as to what types of liability coverage you have, an insurance expert or a lawyer can explain the terms of your liability insurance policy.
There is a lot to be considered for a liability insurance policy you can afford, so be sure and list any area that you might need coverage. When it comes to liability insurance, it is better to be safe than sorry because you could risk everything, if you become involved in a large lawsuit. Liability insurance will give you the peace of mind and protection you need making it a good bargain for the price. I can't stress it enough that no matter what business or profession your are in, you need to get that liability insurance to protect it all.
by: Terry Schierer
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