– Getting Started & Next Steps
Finding a General Liability Insurance
There are so many things that are covered by general liability insurance from property damage to bodily injuries. This way, if by accident that you and your employees damaged someone else’s property or if been injured, you know that you are covered. When searching for general liability over the web, don’t be surprised if your personal information is sent to a number of companies where a qualified and experienced agent will review it and contact you; this is for the main reason that such policy is customized to the client’s needs.
In an effort to see what is covered, it is important to talk that info to the person where you will get the insurance from. To ensure that you are going to get the coverage that you exactly need, then it is essential to throw vital questions to the agent.
Question number 1. Selling products at inside space – in your policy, being able to know the minimum amount for your general liability insurance is your job. The insurance does cover standard slip and fall kinds of accidents but you must know that before setting it up at inside space, the municipality will tell you to have minimum limits for the liability.
Moreover, the municipality will require you to add them to the policy as an extra insured and at the same time, will require you to send them a proof that all of the provisions have been satisfied, which often comes in form of certificate.
Question number 2. Clients with poor credit applying for general liability insurance – whether you like it or not, there are some insurance companies that will look first on the client’s credit. They may look at the current financial standing of your business mainly for rating purposes which will include salaries, liabilities, gross sales, and the likes. And sometimes, depending on the number of years that your business is in operation, they may use it as grounds to decide whether to provide coverage or not.
With this in mind, it could be hard for your business to get coverage in the event that it is just a year old in the industry than justifying your personal poor credit history.
Question number 3. Issues with general liability insurance – for businesses that are requesting for general liability insurance, there are some issues that should be addressed. With this in mind, it is essential for suspecting clients to check thoroughly and also, analyze the terms and conditions of the policy in question like if the dollar amount of coverage is good enough, is the insurer financially good, are there reasonable premium payments, is the deductible too big, does the policy provides protection towards injuries of customers inside the company’s properties and so on. These are just some aspects that must be checked when making a decision.