How does liability coverage work for a Georgia business insurance?
9/23/2011 12:00:00 AM
Liability insurance is extra coverage that most business owners add to a Georgia business insurance policy. It is designed to financially protect you if claims are made against your business. These can come in a number of different forms.
Injury claims
The type of claim most people are familiar with is injury of a member of the public who was on your business premises. You are responsible for providing a safe environment for your staff and for others who may enter your premises, but even in a safe environment, accidents can still happen and you could be held liable for any injuries to the person.
Loss or damage due to other negligence
Businesses providing a service or advice can be held liable for providing incorrect advice or for an employee error that results in damage or loss to the client’s business. Few professions are safe in this litigious era – anyone from a hairdresser to a civil engineer can find themselves on the wrong end of a lawsuit.
If you have the right liability coverage in place and you are subjected to a lawsuit covered by your policy, your insurer can take care of the legal costs and any damages awarded up to the limits of your policy. Not having this type of coverage in place leaves your business (and perhaps you, personally) at risk of financial ruin.
Does your Georgia business insurance policy cover the liability risks your business is exposed to?
Injury claims
The type of claim most people are familiar with is injury of a member of the public who was on your business premises. You are responsible for providing a safe environment for your staff and for others who may enter your premises, but even in a safe environment, accidents can still happen and you could be held liable for any injuries to the person.
Loss or damage due to other negligence
Businesses providing a service or advice can be held liable for providing incorrect advice or for an employee error that results in damage or loss to the client’s business. Few professions are safe in this litigious era – anyone from a hairdresser to a civil engineer can find themselves on the wrong end of a lawsuit.
If you have the right liability coverage in place and you are subjected to a lawsuit covered by your policy, your insurer can take care of the legal costs and any damages awarded up to the limits of your policy. Not having this type of coverage in place leaves your business (and perhaps you, personally) at risk of financial ruin.
Does your Georgia business insurance policy cover the liability risks your business is exposed to?