Today, I had an interesting conversation with a client... his partner did not think that having General Liability Insurance was a benefit to the business, but rather an unnecessary expense that could be avoided- since they have never had a claim, And the facility they promote their business at- never asked for proof of coverage.
Which leads me to answer this question:
Which businesses need general liability? .
The average “premises liability” lawsuit costs around $54,000. Without General Liability insurance, your business would be required to pay damage claims out-of-pocket. .
Consider adding general ability to your small business insurance solution if your company has: • A warehouse, Office, storefront, or show room that customers, employees, or vendors visit
• Advertising or marketing content
• Possibility of damaging someone else’s property while working .
Which businesses need professional liability?
Consider adding professional liability to your business insurance policy if you offer advice, services or products. Clients or customers could make a claim against her business even if you’ve done nothing wrong. And the costs can range from thousands to millions of dollars. Without professional liability insurance, your business could be on the hook for paying legal fees, settlement and damages costs out-of-pocket.
To protect your business for the potentially devastating costs of liability claims, you must first understand what liability risks it faces and then choose the right types of business insurance like to reliability insurance, professional liability insurance, or other types of insurance, to address those risks.
. #insuranceBroker#surpluslines #insurance#workWithABroker #LatinaEntrepreneur#generalLiability #Professional#professionalLiability #businessInsurance#workmensComp #happy2help#homeinsurance#autoinsurance #broker#Agent#realestate#home#beautiful #Ambassador#Corona#Riverside#InlandEmpire #creditstothehartford#managingrisk#selfie
Happy Wednesday Y’all!
I will be answering insurance questions weekly on my posts... .
*Business * Work Comp * Professional Liability *
Home *Auto *Life *Boat *
Yesterday, a mortgage consultant asked me:
Do I need Business liability insurance if customers sign a waiver?
A waiver or release form is a contract design to shift liability away from the business with the consent of the customer. Waivers are meant to significantly alter the legal Landscape from the place where the business is responsible to a place where responsibility lies more with a customer. However in the event that a customer makes a liability claim, release forms may not always be enforced. If a business is found grossly negligent, the legal bodies overseeing the claim may ignore the waiver all together.
That said, it’s possible a waiver could help your business avoid some liability claims. However, consider seeking legal counsel first. Have a qualified attorney draft your waiver, and get guidance on how and when to have the customer sign the waiver.
Still, waivers are not impervious and may leave your business vulnerable to liability claims. In the event that a customer does make a claim against your business and the waiver is not enforced, this is liability insurance can help cover the costs of the claim.
One of the most important ways successful businesses protect their assets it’s by ensuring they can survive big hits.
Large threats-such as data breach, or liability claim-have the potential to devastate your business in the blink of an eye.
Make sure your business is protected at a minimum, you probably need general liability insurance, and if you sell goods and services you may need professional liability insurance as well.
. #insuranceBroker#surpluslines #insurance#workWithABroker #LatinaEntrepreneur#generalLiability #Professional#professionalLiability #businessInsurance#workmensComp #happy2help#homeinsurance#autoinsurance #broker#Agent#realestate#home#beautiful #Ambassador#Corona#Riverside#InlandEmpire #creditstothehartford#managingrisk#protected
128112 September, 2018
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2126 September, 2019
What happens if a client thinks you or your third party did not deliver on a promise? That opens you up to professional liability. Watch our video for tips on how to limit your exposure. ow.ly/hcdh101Kmil #insurance#professionalliability
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Own a business! Need commercial auto insurance, general liability, workers comp or other coverage? We can help give your business the coverage you need.
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Change order disputes like requests for additional services that add #laborcosts or design changes that add material costs are just part of doing business in #construction . Here are 5 ways to keep them from derailing your project. ow.ly/h6Bx101IUds #professionalliability
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63210 September, 2019
Students spend the better part of their day in school between classes, sports and other school-sponsored activities. Accidents and injuries in the field, on the bus or during field trips are common occurrences. K-12 Student Accident insurance protects educational institutions from expensive lawsuits and liability claims. LHG designate comprehensive K-13 Student Accident insurance for public, private and parochial schools. Schools may choose a pre-determined benefit schedule or a customized plan.