Do You Have The Right Insurance For Your Business Needs

Depending on your business needs, liability insurance can be purchased in many forms.

General Liability Insurance offers protection from third party claims in the case of a business being sued for something they may or may not have done. Injury claims, property damages, or advertising claims.

The liability coverage limits are set for what a business needs are by how much risk is involved.

When considering liability insurance for your business, first examine what type of business it is.

A manufacture that has a higher injury risk, because of say heavy machinery should purchase a policy with higher coverage. A smaller business with less risk or may want to go with a smaller policy.

Doctors require coverage to practice in certain states. Technology consultants often need coverage in independent contractor work arrangements. Depending on your profession, it may be a legal requirement to carry such a policy.

Employer liability is also known as worker’s comp, and it is a mandatory form of liability insurance coverage that all businesses must carry. While it sounds like it is intended to protect the employee, which it does to some degree, it is actually protection for the employer in case of injury, job related illness, or other damages for which the employee might sue the company.

Auto Liability insurance is one of the most popular options because it costs less than other coverage such as Full Coverage.

In the case of an accident, liability covers the other party’s losses, and protects you from being responsible. While this may save you from a law suit, it still leaves leaves you and your property vulnerable and you may have to pay out of pocket for your damages.

Full Coverage Insurance will pay for both your vehicle and the other vehicle involved in an accident as well, property damage and medical expenses for both parties. When you purchase a vehicle from a dealership and are making payments, it is required you have full coverage. This makes sense, because the company you purchased the vehicle from and you are covered and that is what insurance is all about, protection.

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The Right Insurance Coverage for Restaurants Why It Is So Important

There is a lot that goes on behind the scenes you do not see from your table in a restaurant, from preparation to serving of the food. If you are a restaurant owner, you know it’s hard work and strong dedication to keep your restaurant going. Mishaps can happen from the kitchen to the dining room, so make sure your dreams and hard work for your restaurant are completely covered with liability insurance.

From the type of food, you serve to how it is kept is vital. A daily check for freshness and standing by the health codes should assure you a well-run kitchen.  The wonderful dishes you serve are going to be eaten by trusting customers and employees alike, and if for any reason a breakout of food poisoning should happen you will have to answer for the consequences.

There is a risk of injury for employees when working with knives, hot ovens, stoves, fryers and such. As an owner you must be able to cover any expenses if this occurs. Some accidents maybe smaller than others, but the fact is you are responsible, and this is where liability insurance comes in for you.

Consider liability insurance as a silent partner if need be. Without it a restaurant could be out of business in a very short time if anything should happen from injury to employees or customers. Liability insurance means claims would be investigated and sorted out for fraud and also find out if a restaurant is not at fault. If for example that your restaurant was not at fault or it was a fraudulent claim being made against you, then having liability insurance could insure a counter suit for your restaurant. If for some reason a restaurant is found at fault, there would be coverage for the legal cost and help with the cost of the claim.

Don’t put off checking into liability insurance or updating your coverage. It could be the difference of being open one day and closed the next.

Have questions? Contact us today at 863-456-3903.

 

 

 

 

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