subject: Customizing General Liability Insurance [print this page] Colorado general liability insurance is the best way for a business to protect itself against the damage that can be caused by lawsuits. In the event that your business causes damage to a customer's property or that a customer is injured on your property, this insurance kicks in to make sure that you're not left without resources to cover the damages. Depending upon the type of business you own, you may need different types of coverage. If you provide services, you may need insurance to cover incidents where damage is caused to the customer's property. If you're involved in the manufacturing sector, you may need to protect yourself against environmental lawsuits.
A professional commercial insurance agent can make sure you have the type of Colorado general liability insurance you need. This coverage may be very different for different businesses. If you operate a ski instruction school, for example, you may need coverage in the event that a customer severely injures themselves due to an equipment failure. If you have a retail shop, you'll need coverage that protects you if you're sued because someone slips and falls in your establishment. A good agent can customize your policy to fit your needs.
There are some products on the insurance market, called BOPS, that are sold to business owners. These policies are typically called Business Owner's Policies, or are sold under the aforementioned abbreviation. These many not provide you with adequate coverage. The approach with these policies is a one-size-fits-all one where every business is treated essentially the same where insurance is concerned. Because businesses vary so much in their services and areas of potential liability, these policies may not be a good choice for you and your business. There are better ways to get Colorado general liability insurance.
Colorado general liability insurance can be customized for your business. If you're already committed to a BOP, a commercial insurance agent may still be able to help you. By adding riders to your policy, they can make sure that you're prepared for the worst. By studying your business sector and gaining knowledge of what threats you face, these agents can ensure that your policy is a custom fit for your business. No matter what type of business you're in, it has its own areas where liability is a major concern. If your insurance isn't adequate, a commercial agent is likely your best option.
Customizing General Liability Insurance
By: Matt Douglas Smith
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