Choosing Liability Coverage For Your Business

No matter what type of business you run, you need to protect your interests with the right insurance policy. Every company needs a variety of different types of insurance; some of these policies are the same no matter what kind of business you have, while others might be specific to your industry. One of the coverages that remain the same across the board is general liability coverage.

What General Liability Is For

There are a number of different types of liability policies you can purchase to protect yourself from potential financial responsibility. General liability is one of the less specific forms of coverage and provides a generalized, overall coverage for liability claims resulting from a wide array of possible incidents. While it will not protect you from everything, a good general liability policy provides you with a solid foundation.

A general liability policy gives you coverage for defense from lawsuits and to pay out financial claims when negligence on your part can be proven. It prevents your company from facing potentially serious financial damage due to property damage, injuries, or any other claim that can be proven to be a result of your company’s actions or products.

Choose Your Policy Carefully

When you select a liability policy for your company, you should first make certain that the policy covers you from all angles. If you have specific risks that are not covered by general liability, you may want to purchase additional policies to provide that coverage. It is important to understand what is covered by your general liability policy and what is not; waiting until a claim occurs is not the best time to discover the exclusions in your policy!

Be certain that a few basics are being covered by your general liability policy. You want to be sure that you have good public liability coverage-meaning that members of the general public who might sustain injury or loss as a result of negligence on your company’s part can be compensated. You also need to be sure that you have enough coverage to protect yourself properly.

Your general liability policy is one of the most important you will select as a business owner; it takes only a quick look at the news to see the array of claims consumers have made against companies in recent years. Many of these lawsuits ended in favor of the claimant. Without good liability coverage, your company could wind up paying these claims out of pocket. Take the time to make sure you have selected liability coverage that meets all of your needs and potential risks.

As December draws to a close

As December draws to a close, many of us are hastily composing New Year’s Resolutions. I know I make them every year. Mine used to be the same old cliches: Go to the gym every day, cut back on calories…

 

And there’s nothing wrong with these old resolutions. Many of us could stand to exercise more often or get rid of some bad habits. But there’s more to life than a drive for physical improvement.

 

That’s why I’ve recently begun putting a new twist on my resolutions. I’ve found carrying out these new resolutions so much more fulfilling that I thought it might be worth sharing some of them with others. Here are a few of my personal favorites:

 

Spend more quality time with your family.

Make sure your loved ones know how much you love them.

Share a kindness with passing strangers.

Make an effort to appreciate everyone for who they are.

Be slower to anger, and more thoughtful in your responses.

Try some fun new activity.

Whenever you see the opportunity, do something to make the world a little better and more joyful than it was a moment before.

 

These resolutions won’t cost you a thing, might take less effort than the usual ones, and will almost certainly leave you and those around you feeling happier!

 

May this next year be the best yet for you and your family!

Personal Auto Insurance Isn’t Always Enough When You Own a Business

Most business owners are aware of the possibility that one or more of their employees might get in an accident on company time or while driving on company business.  And of course they are aware that this accident could result in substantial liability for someone.

 

That’s why these same business owners insist that their employees have valid automobile insurance.  Unfortunately, companies who follow this game plan are still taking a HUGE risk.  Why?

 

First, because if they don’t insist on seeing proof of this insurance, the employee could simply lie.  “But wait!” you might exclaim.  “What about demanding that the new hire bring in proof of insurance?”  Unfortunately, there are two problems with this tactic.  The first is that people can still lie.  Many drivers purchase insurance policies for the sake of their job or to please the DMV at registration or license renewal time, and then promptly let those policies lapse as an unnecessary expense.  After all, they’re a safe driver, they reason.  If they get in an accident, it will be someone else’s fault.  Now, if only all the people who thought this way were correct…

 

Secondly, many personal policies specifically exclude business activities.  What happens if an employee with such a policy gets in a serious accident on the job where they are deemed at fault?  They thought they were covered.  You thought they were covered.  But they weren’t, and the injured party is looking for someone to sue.  Guess how much your good intentions will matter in court?

 

That’s why you should always make sure your company is covered by a reliable commercial auto insurance policy.  We have the expertise to match your company with the right policy for your needs.

 

Give us a call today at 401-433-1111 or contact us at hdaigneau@allstate.com, and we’ll set up an appointment to make sure your company is protected in the event of an auto accident.

Do You Need Insurance As A Renter?

Do you think home insurance is just for homeowners?  Protecting your personal property and ensuring costs are covered should fire or flood destroy your rental property is not only smart, but in some cases you could be legal responsibility.  So what kind of insurance do you need as a tenant and what should you be sure you have covered to protect your belongings?

 

What Does Renter’s Insurance Cover?

 

Depending on where you purchase your renter’s insurance, the types of claims that will be covered can vary.  In general, renter’s Insurance coverage is similar to that of homeowner’s insurance in that it covers vandalism, theft, and fire.  In most cases this also includes personal liability, meaning that you are covered even if you are the cause of the damage, and it usually includes not only the property itself, but the contents as well.  The extent of the coverage can vary from minimum legal coverage to comprehensive coverage, depending on your personal situation and needs.  Since the minimum coverage required in apartment building or apartment complex (and state) can vary, you will need be sure how much liability coverage you need.  We can help you find a policy that is right for your situation and budget.

 

Renter’s insurance will also cover your personal property in the event of a theft (some limits under the policy may apply).  If you come home from work or a weekend away and find that your apartment has been broken into and your personal property has been vandalized and/or stolen your renter’s policy is there for you.  Renter’s insurance will also be there for you if your car is broken into and your personal property (computer, gym bag, wallet…) is stolen from your car.

 

What Does Renter’s Insurance Cost?

 

Like most insurance policies, the more comprehensive the policy, the most costly it will be, but overall, renter’s insurance is usually a very affordable type of insurance.  In most cases we can help you purchase a renter’s policy for less than $145 a year.  One option that will always make renter’s insurance more affordable is to combine it with another type of insurance, usually car insurance.  We have these types of combined policies available, and since these are two types of insurance that you are required to have anyway, combining them to save money is a great idea for making insurance more affordable.

 

Give us a call to get more information, 401-433-1111!