Property Liability Insurance

The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.

If you run a small business, what you don't know about business insurance can hurt you.

The terminology used by the insurance industry often is overwhelming, but basically there are three types of insurance for your business: property, liability, and people.

Here's a look at all three.

Property: covers building losses

Basic property insurance covers your business against unforeseen losses due to fire, lightning, vandalism, and other mishaps. Optional coverage can also be obtained (at additional cost) to cover against less likely events such as earthquakes and floods.

Property policies essentially fall into two groups. A "named-peril" policy will cover certain losses resulting only from causes that the policy identifies. An "all-risk policy" covers any type of loss except for those specified in the policy.

The difference is important, one policy specifies what it will cover, while the other identifies losses that it won't. So pay close attention to these details.

Once you decide what sort of protection you need, think about what items you will need to cover. 

Since it's a good idea to buy insurance based on replacement value, it's necessary to take stock of your business and list the items that you have, along with their replacement values. Make sure you look beyond the obvious, such as notebook PCs and signs not attached to a building. Once you have the list, decide exactly what items are worth insuring and make sure they are covered by the policy.

When considering your needs for insurance products for your home or business consider contacting Bennett Insurance Group at 623-979-4140

Presented By:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com