Don’t Lose Everything! Get Personal Liability Insurance  

It is no secret that we live in a society that is sue-happy. It seems more and more people are starting to consider a simple inconvenience to them an opportunity to make some money. This, of course, at the expense of, often innocent, business or land owners. This means liability insurance is an absolute must for anybody who owns a business or other venture where the public visits or which offers goods or services.

Small businesses in particular can take a very big hit if someone should decide to sue them. When a judgment is passed against it, the business can find itself in a situation where there simply is not enough money to cover the cost. Unfortunately this is even true for companies that have chosen a policy with premiums that don’t cover everything, or when they are required to pay a phenomenal amount of money.

When you have a small business, you have a lot invested in it. There’s blood, sweat and tears, but also financial investments as well. You want to see your company succeed because of all your work, but you need to see it succeed because of the financial aspect. If your company goes bankrupt or a lawsuit exceeds the insurance premium, you may be at risk of paying the remaining balance, by whatever means necessary.

Of course nobody wants to lose their house as well as their business! Personal liability insurance covers your own property in just such an event. Essentially it is an extension of any other liability insurance you may carry.

Apart from your business, you may have a similar experience if you are in a car accident. Damage to the person’s car and their medical bills may amount to $200,000, but your insurance may only pay $50,000 of that. In that case you are personally responsible for the remaining balance! That’s a lot of money and may mean losing your home.

With liability coverage insurance, you are essentially covering your behind in case the worst should happen. It may sound a little redundant or unnecessary, but just ask people who have lost their business and then their personal assets if it’s a good idea. They will say yes.

Personal liability insurance doesn’t have to cost a lot, but it can mean the difference between losing everything you have and not losing anything! That’s worth the small investment you have to make.

Finding the right policy for you will take a little research. Your insurance agent will be able to give you a good idea of what different options are available and what your level of risk is to help you determine how much and what kind of coverage you need.






 

Liability Insurance News:

 

Making it easier to recall elected leaders in Washington - MyNorthwest.com

MyNorthwest.com
Making it easier to recall elected leaders in Washington
MyNorthwest.com
They accused him of using the police department as his own personal force, firing people unfairly, and risking the town's liability insurance by having so many vacant department positions. Though Sun has denied all allegations, the State Supreme Court .

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Lawyers Professional Liability Insurance: Law Firms, Protect Yourself
The new US Economy has created more lawyers professional liability insurance exposures than you may be aware of. Law firms, here's how to protect yourself...


National BBQ Month Brings Forth Liability Concerns for Homeowners EUR Bye Insurance Agency Shares Safety Tips
Local insurance agency, Bye Insurance Agency, encourages grillers and homeowners to practice safe barbecuing techniques to avoid liability issues and incidents. (PRWeb May 13, 2013) Read the full story at http://www.prweb.com/releases/2013/5/prweb10721962.htm..


Texas fertilizer plant had only $1M liability insurance coverage - Fox 4
WEST, Texas -- The fertilizer plant that exploded last month in Texas, only had $1 million in liability insurance coverage, according to the attorney representing Adair Grain which owned the West Fertilizer plant. Brook Laskey ...


San Diego home insurance: know what's covered when you're out of town or on . - Pomerado Newspaper Group

Pomerado Newspaper Group
San Diego home insurance: know what's covered when you're out of town or on .
Pomerado Newspaper Group
That said, be sure to check with your agent before traveling to verify coverage and make sure that the business/personal property distinction won't cause trouble when filing a claim. Liability coverage: Like it or not, accidents happen, both at home .

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Will Insurance Fix Yard Wrecked by Neighbor? - Fox Business

Will Insurance Fix Yard Wrecked by Neighbor?
Fox Business
Home insurance policies do include personal liability coverage for injuries or property damage to others. It's not your policy that will pay the claim; rather, it's your neighbor's homeowners liability coverage that should pay the claim. You will need .

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The IRS Is Accessing Your Health Records. You Trust Them? - Forbes

The IRS Is Accessing Your Health Records. You Trust Them?
Forbes
That includes more authority to share your personal information EUR” not only about your income, but also your healthcare. And the . This abuse should give everyone pause heading into the fall, when the IRS assumes the lead roll in monitoring what kind .

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