Indiana General Liability Insurance
Indiana general liability insurance can provide company owners with the peace of mind in knowing that their business is protected in the event of suit resulting from damage to a customer's property or personal injury that occurs to a customer during the course of business. Whether you own a restaurant in Evansville, IN, or are a general contractor in Gary, IN, commercial liability insurance can protect your business.
Let's face it, accidents happen. No matter how safety conscious we are and no matter how much training we provide, things get damaged and people sometimes get hurt. Have you ever stopped to think about what would happen if your business were sued because of an injury or damage to customer's property? Would you have the financial wherewithal to sustain the litigation? Would your company be in danger? If you answered yes to the last question, Indiana general liability insurance can help.
Understanding Indiana Commercial Insurance
Before you shop for Indiana general liability insurance, you should understand how it works. Commercial liability insurance coverage is the coverage of a business for damages to another's property or personal injury to a customer. It will also cover litigation if it comes to that. Let's say you are an Indiana general contractor and one of your employees accidently drops a ladder on your customer's lattice work pergola putting a hole through it. You are liable for the repair or replacement of the pergola. This is a very minor example of how Indiana general liability insurance can help. If you have coverage, the insurer would pay to have the pergola fixed and your customer would be happy.
Now let's say you own an Indiana roofing company and while doing a commercial hot roof, you inadvertently set the roof on fire causing several thousand dollars worth of damage. Roofing companies carry one of the highest risks for general coverage because of the potential damages that can be caused on a roof. From leakage, to fire, even items falling off the roof and injuring the customer, all can be covered using Indiana general liability insurance.
Indiana general liability insurance does not just cover you or your business, it also covers the employees who depend upon you to make a living in Indiana. It also covers your customers, which makes you more marketable especially if you are a general contractor. Any savvy customer knows that if a contractor does not have insurance, it might be a good idea to keep looking. Luckily, Indiana general liability insurance is extremely affordable. A one million dollar policy can cost less per month than the price of a roofing ladder.
Types of Liability Insurance
There are many types of Indiana general liability insurance available. Every policy is designed to cover specific risks associated with the company being covered. When you meet with an insurer, they may ask you to fill out a quote request that will outline the specific work you perform. The risks associated with each company vary and so will the Indiana policy. For instance, if you are a general contractor, there are policies that are specific to general contractors that cover a wide range of construction activities. One item that is usually separated is roofing due to the risks involved. That does not mean you cannot cover it, it just means that it will have a premium that is specific to that particular function.
Other types of policies would include product and public liability. A product policy covers the supplying or manufacturing of goods. For instance, a customer purchases a riding lawnmower from your store. Unfortunately, the brakes are bad and the customer accidently runs over their prize winning roses mowing them all to the ground. Of course, the customer will be returning the mower to you and expecting you to cover the damages. In this case, your Indiana provider will cover the customer's damages through your product policy and then will seek reimbursement from the manufacturer's insurance company.
Public liability is coverage that protects you in the event something your company or one of your employees does causes damages to the public. A good example of this would be a manufacturing company suddenly having a pollution problem due to mechanical failure. Because the pollution will affect the public, the public liability coverage would provide remediation. It could even help cover the regulatory charges and litigation that will surely follow.
Indiana general liability insurance is a great way to cover any business against damages resulting from the work they do. No matter whether you are a small business owner or a multi-million dollar corporation, everyone can benefit from liability insurance. You can shop online today to compare quotes and find the best rates for the policy you need.