Maryland General Liability Insurance
Maryland general liability insurance is one of the most important investments you can make for your business. In the event of damage to a customer's property or personal injury of a customer, your MD company will be liable to pay for the damages, medical expenses and the legal costs. If you have a Maryland general liability insurance policy, the Maryland insurer will cover the costs. If you enjoy convenience, you will love the ability to compare general quotes online using our easy form. You can then purchase the coverage you need without having to leave the office. No matter whether you are a contractor in Baltimore, MD, or a restaurant owner in Silver Spring, MD, there is a general policy that will fit your needs and your budget in Maryland.
Maryland general liability insurance is a policy or a combination or policies and endorsements, which are designed to protect a company in case of damage or personal injury. There are many kinds of policies available. Maryland liability policies have maximum amounts they will cover in general, for damages and injuries. You can supplement Maryland general liability insurance policy using endorsements or you can increase the limits on the general coverage. How you choose to cover the company you own will depend on your risks and the budget you have to work with.
Take for example a general construction firm whose employee inadvertently knocks a ladder away from a roof, which subsequently lands on the customer's Mercedes causing extensive damage. This type of accident could result in thousands of dollars of damage as well as litigation costs if the customer sues the company. If the construction firm has Maryland general liability insurance, the insurer would pay for the cost to repair the car and the legal fees to cover the suit. This is just a small example of what type of damage can easily happen. If the construction firm did not have insurance, they would still be liable for the costs and could lose their business because of the damages, especially if the firm was a small one with minimum amount of capital.
Available Liability Coverage
Maryland general liability insurance comes in a wide variety of policies that can be fit to the needs of the customer. There are also several types of endorsements that can be used to extend the general policy for additional coverage as needed. Examples of these endorsements would be liquor liability, the cleanup, or regulatory cost of pollution, equine coverage, product liability, errors and omissions endorsements, or event coverage. Whatever your business, there are policies available to ensure your Maryland business is covered.
Many small businesses are under the mistaken impression they do not require Maryland general liability insurance. Small businesses however, are one of the hardest hit in the case of a damage claim. Because of the minimum amount of capital a small business usually has, even a small claim can be a calamitous event. A good example of this would be a pub owner. If a pub owner does not have the proper coverage for their liquor sales, and someone is injured or damages occur due to the sale of that liquor, the pub owner could end up paying extensive damages. If you are a pub owner, consider a liquor liability policy to protect the pub from this type of peril.
A liquor policy is also excellent insurance for the owners of clubs, hotels, or even restaurants. If the company you own sells alcohol, consider adding this policy to cover your assets in the event of damage or injury to the consumers or to the public. Liquor liability can be purchased separately or can be added to an existing policy. Read your existing policy carefully, if you do not have liquor damages covered, you could be responsible for extensive damages in case of an accident.
Maryland is a popular state for telecommunications contractors to do business in. These types of businesses may find errors and omissions insurance to be a needed coverage. Errors and omissions coverage covers damages that result from mistakes in a company's work. This type of policy is also excellent for engineering firms or survey companies. If a construction contractor accidently hits a gas line because you failed to identify it on the construction drawings, errors and omissions insurance will pay for the damages and litigation costs if needed.
Maryland general liability insurance will provide you the insurance you need at an affordable rate. You will find that you will breathe easier when you know your livelihood and the livelihood of your employees are protected even if there is an accident. As a Maryland business owner, you have worked hard to get to where you are today. Don't take a chance on jeopardizing everything you have worked for. Buy Maryland general liability insurance today.