Iowa General Liability Insurance
Iowa general liability insurance is one of the most affordable ways to protect business assets in the event of damage or personal injury to a customer. Whether you are an electrician, general contractor, or restaurant owner in Iowa, you can get coverage for your assets and even make yourself more marketable in the process by purchasing Iowa general liability insurance. Shop online today to find out how easy it is to obtain a commercial liability insurance policy.
Any company in Iowa has risks associated with what they do. These perils can include risks to customers or a customer's property, or even to the public. Iowa general liability insurance provides coverage for any IA company's assets in the event of personal injury to a customer or property damage. For instance, if you are an electrician in Iowa and you inadvertently left the ground wire off an outlet, which caused a fire in a customer's home or business, you would be liable for the damages unless you have Iowa general liability insurance.
Perhaps you are an IA general contractor and an employee accidently pours wet cement on a customer's deck. If you have Iowa general liability insurance, the provider would provide the customer the replacement or repair costs for the damage to the deck. If the customer also sued you for the incident, the insurer would cover the litigation costs as well.
Another good example is an Iowa restaurant owner whose employee forgets to mop up a spill resulting in a customer injury from a fall. As the owner of the restaurant, if you do not have liability insurance, you could be liable not only for the medical costs for the customer's injury, but may also have to pay for the attorney's fees if the customer sued the restaurant. Iowa general liability insurance would cover both the medical costs and the litigation expenses.
No matter what kind of company you own, the cost of Iowa general liability insurance is far below the possible cash expenditure if you have to pay for damages from the business account. Most Iowa general policies will cover the above scenarios, but there are maximum amounts a general policy will pay. Luckily there are other options you can add to the policy to increase the small business liability insurance coverage.
Policies can be tailored to fit your needs by adding different coverage options for perils not in the main policy. Some examples of these would be pollution insurance for manufacturers, alcohol policies for businesses who sell alcoholic beverages, or even equine insurance for businesses that hold trail or wagon rides. No matter what kind of business you own, there is a commercial liability insurance policy available for you.
The cost of a general liability policy is determined in part by the risk factors of your company. There are several things you can do to minimize those risks. You first item should be to develop a safety program. Safety meetings should be informative and aimed at the services and products you provide. You should also encourage the participation of the employees. By being involved, they will be more likely to implement the safety measures important to the business.
Maintaining good records of safety meetings that include a list of attendees, the topics of the meetings and any other important information is vital. Posting safety posters around the office and work site is an excellent way of ensuring employees understand how important safety is to the company. Some general liability companies in Iowa may even provide you a discount on the premiums if you have a safety program.
If case of an accident, there are several steps you need to take in order to provide the insurance adjuster the correct information. Of course, the first step is to report the accident to the insurer. For accidents involving employees, have the employee provide you with a written statement immediately following the accident. If possible, conduct your own investigation and take photos of the accident site. Your adjuster will require your full cooperation during the investigation. Be sure to provide any information you have to them so they can complete the investigation as quickly as possible. Iowa general liability insurance will not cover you if an accident is the result of unlawful behavior or intentional damage by either you or your employee.
Iowa general liability insurance is one of the best investments a business owner can make to protect their company. Be sure to understand your risk factors request additional coverage where needed. Shop online and get the best prices by comparing rates from several reputable companies. No matter which policy you choose, you will find peace of mind in knowing your business assets are covered in the event of damage.