Business owners may not understand the different types of coverage available to them. For example, owners need general liability insurance. The coverage pays in the event someone is injured due to products they sell. Further, it covers people who are injured on the property. There are three types of liability claims: premises, product liability, and completed operations claims. Completed operations claims result from damage or injury that occurs because of someone else’s work. For example, the company has a wall built and it falls three months later, injuring people.
It is always advisable to talk to an insurance agent because a company’s needs often change. The agent may advise obtaining excess liability coverage. This coverage supplements the existing policy. In addition, the terms of the original policy apply to the excess coverage. On the other hand, an agent may recommend Commercial Umbrella Insurance in Altoona PA. Umbrella insurance is not the same as excess liability coverage. Umbrella insurance supplements a business’ existing coverage and adds to it. Indeed, it raises the existing coverage limits. It also covers any exclusions, deductibles and limitations of an existing policy. Click here for more details.
Often, Commercial Umbrella Insurance in Altoona PA, offers valuable optional coverage. Loss of business income coverage kicks in when a covered loss results in the business closing. The coverage helps to pay things like payroll and rent. Date Breach Coverage is another valuable tool.
Data breaches are more and more common these days. Indeed, people want to hold the business financially responsible if their information is stolen. A quick response in these situations helps to restore public confidence. Further, the coverage provides an attorney if the business is sued.
Employment liability insurance protects one if an employee files a claim alleging discrimination, wrongful termination, and violation of the Family Medical Leave Act. This coverage can be important, especially if there have been previous employment-related claims.
To learn more about available coverage, In the case of disaster, businesses need coverage that helps them get up and running. Further, the business should be protected so that no one claim shuts it down. Get the protection needed today.
