Montana General Liability Insurance
Montana general liability insurance is one of the most important things you can do for your company. Companies are at constant risk from accidents and suits relating to the product they provide or the services they perform. If you own a business in Montana, consider purchasing Montana general liability insurance online today to protect your business.
Basics on Liability
Montana general liability insurance protects a business from the damages resulting from injury to a customer or damage to a customer's personal belongings. If your Montana business is not covered, consider what the consequences could be in the event of a customer being injured while on your property. If the injuries were extensive, you could be paying thousands or even hundreds of thousands of dollars in medical or legal expenses, even if the injury was not your fault. If you own a small business, this kind of expense could cost you the business.
Fortunately, Montana general liability insurance is extremely affordable, especially when compared to the money it could save you for just one incident. Basic Montana general liability insurance will cover property damage, bodily or personal injury, and false advertising. Most general commercial liability insurance policies are sufficient to cover small businesses with minimum risks. For Montana companies that require more extensive general coverage, there are a wide variety of policies that can be added to the general one to fit most contingencies.
Types of General Liability Insurance
Basic Montana general liability insurance provides coverage on damage and personal injury, but if you are a Montana professional such as a real estate broker, architects, home inspector, or appraiser, you might need additional general policies such as errors and omissions. This protects businesses against mistakes made that cause financial harm to an individual or company. For instance, if you are an architect who inadvertently makes a mistake in a design which costs the customer time and money, this would cover the costs and litigation if necessary.
Other types of policies offered include directors and officers liability, public liability, internet coverage, equine insurance or liquor coverage. A directors and officers policy protects corporations from the mistakes made by a director or officer. Public policies cover the public against damages that may result from your company. An example of this might be pollution damages requiring remediation. Internet policies are becoming increasingly popular to cover businesses whose primary business is web-related. This could cover hackers or viruses, down time, or a variety of other internet related risks.
Montana is a state with a number of equine related businesses. If you have a horse related business, such as a boarder, breeder, trainer, or riding instructor, or if you offer wagon or pony rides, you might want to consider purchasing commercial liability insurance for equine coverage. This type of policy will cover property damage or personal injury that occurs while a customer is on your property or while you are performing a service. Most equine policies do not however, cover a horse or tack while it is in your care.
If the company your own sells liquor, such as a club, restaurant, or hotel, you may also want to add a commercial liquor policy. This type of coverage will protect you in the event that damage occurs that is related to the customer's purchase of your liquor. If you sell alcohol and do not have this coverage, you could be liable for any damages resulting from the sale of liquor. Be sure to discuss this item with a provider if you plan to sell alcohol.
The above items are just a few of the policies that are available for Montana general liability insurance coverage. In order to determine the type you need, discuss the potential risks you have with your provider. There are many more alternatives available that are specific to each business. Your insurance provider can help you find the one to fit the needs you have.
For businesses that are at a high risk for damage or lawsuits, an umbrella policy might be the ideal solution. All Montana general liability insurance providers have limits to what is covered and how much they will pay. An umbrella policy will increase the coverage by picking up the tab for items not covered by a general policy. Most umbrella policies are sold in million dollar increments and are only used when all other policies have exhausted their payouts. If you are concerned about the coverage you have, consider adding an umbrella policy to supplement the existing policies you have.
Montana general liability insurance is a prudent choice for business owners. Whether you own a restaurant in Missoula, MT, or a real estate firm in Billings, MT, there is a policy to fit your needs. Shop online today to request quotes and compare rates for top insurers in Montana.