Kentucky General Liability Insurance
Kentucky general liability insurance is not only affordable but a necessary step in protecting a Kentucky business. It is very easy to shop for and purchase liability insurance online right from the comfort of your office. No matter whether you own a riding stable in Covington, KY or are a general contractor in Lexington, KY, you can find the policy you need in case of accidental damage to a customer's property or injury to the customer. There are many Kentucky general liability insurance policies to fit the needs of any KY company. Fill out our easy quote form today and start protecting your assets tomorrow.
Commercial liability insurance will pay for damages if an employee causes property or personal damage to a customer while doing their job in Kentucky. If you have a business owner's policy or BOP, you may already have some general coverage but you will want to verify that the limits are sufficient to cover you for any potential risks. If not, you may want to think about purchasing a separate policy to provide a more comprehensive coverage of your company. You worked hard to get to where you are, don't put your business at risk because of not enough insurance.
Business Insurance Costs
You will undoubtedly be pleased to find that the costs of Kentucky general liability insurance are extremely inexpensive, especially when you compare them the potential cash outlay in case an accident occurs. Consider the medical costs if a customer is injured while on your property in Kentucky. Depending on the injury, the medical cost alone could be extensive. Now consider how you would feel if you did not have to pay for those damages. Kentucky general liability insurance will not only pay for medical expenses or for damages to a customer's property, but for the legal expenses in the case of a suit as well.
Most experts agree that most small businesses in Kentucky should purchase two million dollar Kentucky general liability insurance for sufficient coverage. Many new business owners are surprised to find that this type of policy is extremely affordable. In many cases it can be less than what you currently pay for homeowners insurance.
Kentucky general liability insurance comes in a wide variety of coverage to fit the needs of any company. The most common policies cover customer, public, and products liability. Customer liability is defined as the responsibility of the insurer for property damage or injury to a customer. Public coverage covers damages to the public or someone who is not a customer. Examples of businesses that require this type of policy would be a shopping center, factory, or sporting arena. Product coverage covers any type of company who supplies a product.
A commonly used additional coverage available in Kentucky is equine liability. An equine endorsement covers companies who work with customers in a horse related environment. Examples of this would be boarders, trainers, riding instructors, or companies who provide wagon rides. This endorsement would cover the business in the event that someone was injured while on your property or while availing themselves of your service. For instance, if a customer were to fall off a wagon during a wagon ride, Kentucky general liability insurance would cover their injury.
You can purchase several types of endorsements to enhance a general policy. You can also purchase an umbrella policy that would cover anything the general policy does not. Whether you own a riding arena or a grocery store, any business can benefit from the coverage of Kentucky general liability insurance.
Risk of Doing Business
The cost of Kentucky general liability is based mostly on the company's potential for risk. Companies with higher risks may have higher insurance premiums. The type of business determines risks. The best way to determine the risks of any company would be to imagine the potential scenarios that could cause damage or injury to a customer or the public. Common risks for a grocery store for instance, might be spills or spoiled food. For a general contractor, the risks might include items falling from a roof, damage to a building, or even fire. For a sporting venue such as a rodeo, the risks could include a bull coming into the audience, or a customer falling down a flight of stairs. Anything that has the potential to damage a customer's property or cause injury should be considered.
Purchasing Kentucky general liability insurance can provide the protection you need to ensure your business is not lost due to injury or damage. The costs of these policies are extremely affordable and if you take the time to identify your risks and the coverage you need, you will find a comprehensive policy that will fit the requirement you have. Shop online today and start covering one of your greatest assets tomorrow.