Missouri General Liability Insurance
Missouri general liability insurance is a policy designed to protect your business and assets in the event of real or alleged damages resulting from your work. Whether you own a machine repair shop in Kansas City, MO or a restaurant in St. Louis, MO, you can find a general policy to fit the needs of your business. Shop online today to compare quotes and find the best rates on insurance to cover any company's liability.
Missouri general liability insurance is important coverage to have for any business or corporation. The potential costs that relate to accidents can be extensive, especially if medical or litigation expenses are involved. If you have a business in Missouri and are not covered with insurance, consider the potential liability if a customer were to be injured while on your property. You would be liable for any medical expenses and could end up with attorney's fees or compensatory damages as well. Missouri general liability insurance can provide coverage for these items as well as several others. Talk to a Missouri insurer today to find out what type of small business liability insurance coverage you need.
Missouri Insurance Costs
Missouri general liability insurance costs vary on a number of items. Your liability risks are one of the most important. Companies with lower risks have lower premiums because the usually have less claims. For example, a general contractor who does roofing will pay more than a general contractor who does not due to the risks associated with roofing. Risks are defined as anything that could potentially cause damage, either property or personal, to a customer or a customer's belongings.
Risks are also determined by the industry. If the company you have is in an industry that has a particularly high number of claims on average, your premiums might be higher even if the company you own has have never had a claim. While on the other hand, if you own a company that is in an industry that has very few claims, you will generally pay a lower premium. For example, a company that sells motor vehicles will have a much higher insurance premium than a company that sells greeting cards.
Missouri general liability insurance costs are also determined by the amount of time the company has been in business, number of employees, sales and payroll, and the laws of the state you are in. You can help lower your premiums by instituting a comprehensive safety program. Many insurers will provide discounts for proven safety programs established in a company. In order to take advantage of these savings, you must keep solid records of your program including the dates of safety meetings, minutes of the meeting, attendees, and any other pertinent information. Be sure to share your safety program with the providers when requesting a quote for Missouri general liability insurance.
There are several types of endorsements or additional policies, which can be added to Missouri general liability insurance. The chief economy is industry including the manufacturing of aerospace and transportation goods as well as food products, chemicals and metals, to name a few. If you are a Missouri manufacturer, you may want to consider adding pollution coverage to the general policy. Pollution policies provide coverage and assistance to companies who have a high risk of pollution. The covered costs can include assistance with economic costs, liability suits, and regulatory charges. They can also provide coverage for remediation of the polluted site.
A basic Missouri general liability insurance policy will cover products that are manufactured in Missouri, but if you are supplying goods that have a particularly high potential for suits, you might want to add an umbrella policy to increase the limits of what is covered. An umbrella policy will provide coverage where most general policies stop. If you have any concerns that the limits or perils of your general policy are not sufficient, talk to a provider about adding umbrella coverage.
There are many other available additions to coverage that are specific to the business being covered. If you sell liquor in your St. Louis restaurant, for instance, you might want to purchase commercial liability insurance that includes a liquor liability clause. If you provide riding instruction for horse owners, you might want to consider a commercial equine policy. If you are a sporting venue, an event policy may be what you need. No matter what type of business you own, there are policies to fit your needs.
Missouri general liability insurance is one of the best investments you will ever make to cover your business. You have worked hard to become a business owner, now protect that business from potential damages. Shop online today and compare rates from top insurance providers in Missouri.