As a business owner, you have the sobering responsibility of making sure that your property, your products, and your people are protected from liability concerns. There are hundreds of concerns that may be floating around your head, and it is nearly impossible to find a single solution to protect you from these exposures and threats of loss. Most businessmen will realize the need for a strong insurance policy but may fail to consider casualty insurance. Working with a casualty claims expert Houston TX companies can recommend will give you more insight into which type of casualty insurance you may need to cover your operations. Here are the three main types an expert might recommend.
With liability coverage, you can be protected from several different risks, but particularly in the areas of lawsuits filed for unintentional harm or situations of negligence. Since these can cover a number of incidents, there are three separate categories of liability insurance. General liability is applicable to injuries that may occur on your property or cases of slander or libel. Professional liability is used for covering mistakes that may be made during the course of operations. Finally, product liability is used to protect from lawsuits the arise from a defect that caused harm to an individual.
Many business owners fail to purchase flood insurance, thinking this event would be covered under property insurance. This coverage is important especially if you live in a geographic area prone to hurricanes and unpredictable rising water levels. You need a policy that will include flooding or severe water damage as a natural disaster/act of God claim.
Most states require vehicle insurance by law, but you will want a policy that separates business from personal use accidents. Most agents can work with you to underwrite a policy that can cover bodily injury, property damage, personal injury, uninsured motorist, and collision.
Consult with a broker in your area to find out the best form of insurance or liability protection for your company.