Liability Insurance by faraj1978


									 A business owner can be beset with a spate of unexpected
  expenses brought about by an unforeseen circumstance as a
  customer being injured within his business premises or as a
  result of consuming or using his products or services. Such
  unexpected expenses could run to the extent of causing business
  losses – some serious incidents could result in huge expenses
  that could cause a business to cease operations altogether. These
  unfortunate consequences could be avoided with the right kind
  of liability insurance protection. There are different kinds of
  liability insurance coverage that business owners can take
  advantage of depending on his business needs. The most
  common insurance protection products availed of by businesses
  includes general liability insurance, professional liability
  insurance, and product liability insurance.
 Coverage for general liability gives protection for personal
  and property damage a third party might suffer from
  incidences in a particular business location or as a result of
  the negligence of the same business’ employees. This kind
  of coverage also provides protection against unexpected
  expenses from lawsuits involving injury and property
  damage claims, slander or libel cases, and advertising
  claims among others. With this kind of coverage, a
  business owner is saved from financial burden that could
  easily spiral into an amount that could cause the downfall
  of the business. This is the main insurance coverage that
  most businesses purchase and, in some cases, the only kind
  of liability coverage a business needs.
 Professional liability coverage is the kind of protection that those
  in the business of practicing their profession has to purchase.
  This includes doctors, dentists, engineers, lawyers, architects,
  cosmetologists, and general contractors among others whose
  discharge of their profession for which they are duly licensed
  might, in unfortunate circumstances, cause errors or omissions
  resulting in damage or injury to their customers. Among the
  specific provisions of professional liability coverage are the errors
  and omissions cover and the malpractice cover. In some
  industries and in some states, carrying professional liability
  cover is required for professional practice. Independent
  contractors and consultants often include such a business
  liability insurance coverage in their contracts as protection for
  potential negligence or malpractice lawsuits.
 Product liability cover has to do with the quality of
  products purchased from a business establishment
  and any adverse effects it might cause in its
  consumers. This kind of coverage protects a business
  from any lawsuits or claims made due to injuries or
  damage caused by using or consuming a particular
  product from a business. Coverage’s for product
  liability insurance can span a range of contingencies
  depending on the particular products sold by the
  business to be insured. Those businesses whose
  products carry greater risk would, of course, be levied
  higher insurance premiums.
 The common business liability insurance coverage is available
  in different configurations and could normally be customized
  according to the specific needs of the businesses to be insured.
  Quotes for these insurance coverages may be requested from
  different non-life insurance companies specializing in insuring
  businesses and professionals. Business owners applying for any
  business liability insurance coverage will have to be ready to
  disclose details about their business operations such as the kind
  of products they carry, the kind of security and quality control
  measures they have installed, and the amount of capitalization
  they have invested in the business.

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