 When seeking business insurance, business owners are often told how important it is to get liability coverage. This type of coverage protects your business in the event that a client, vendor or other third party makes a claim against it. Though there are many different types of liability coverage, there are two main types that many businesses can benefit from:
- General Liability: Protects against third party claims of injury or property damage while on business premises.
- Professional Liability: Protects against third party claims of errors, omissions or negligence that led to a financial loss or other damages.
The best way to select the right coverage for your business is to consult with your independent insurance agent. He or she can assess your business' needs and make personalized recommendations. When you buy a policy, you'll also be issued a Certificate of Liability Insurance, which can serve as proof of coverage.
A Certificate of Liability Insurance lists a few of the important details of your policy on one page, including:
- Types of Coverage
- Coverage Limits
- Your Policy Number
- The Named Insured
- The Issuing Insurance Provider
- The Policy's Effective Dates
This information is good to keep on hand in this brief format, especially if your business bids for contracts regularly. You can easily show clients that your business is insured, which allows them to rest easy knowing that those liability risks won't default onto them.
As businesses grow and evolve, coverage needs will change. Be sure to request a new Certificate of Liability Insurance form each time you update your policy. You never know when this information can come in handy.
Get started today. Call Southwest Commercial Insurance at (512) 771-6091 today to request a quote for general liability insurance or professional liability insurance.
Posted Friday, July 29 2016 1:00 PM
Tags : liability insurance, general liability insurance, professional liability insurance, certificate of liability insurance, coverage, insurance, business insurance, Southwest Commercial Insurance
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