Nevada General Liability Insurance
Nevada general liability insurance is the best way to protect your company from the risks associated with damage or personal injury to your customers. If you are opening a new business in Nevada, consider making Nevada general liability insurance one of your first investments. You can fill out our easy form today, request quotes, and compare rates without ever leaving the office. You can even purchase your coverage and start your coverage immediately. No matter whether you own a restaurant in Las Vegas, NV, or a casino in Sunrise Manor, NV, there are Nevada general liability insurance policies available today to fit your needs.
Basic General Liability Coverage
A basic Nevada general liability insurance policy will cover businesses from suits or damages resulting from personal or bodily injury or property damage to a customer's personal belongings. It will also cover businesses for items such as legal fees that can result from the alleged damages. Many small businesses with a limited amount of risk can benefit from a BOP or business owner's policy. A business owner's policy is the combination of several insurances into one package. Talk to a provider to determine if you qualify for a BOP and if it is comprehensive enough to cover your risks, then look for some general liability insurance quotes.
Personal or bodily injury is defined as damage to a person's body either physical, or mental. This can include everything from physical injuries to damages to someone's reputation or even pain and suffering. For example, if a customer trips and falls in a casino, the casino is liable for the injury the customer sustained in the fall. If the casino has Nevada general liability insurance, the insurer would cover the medical and legal costs up to a limit, resulting in the customer's injuries.
Property damage refers to damages to a customer's property while it is at your business or while you are performing a service at a customer's location. An example of this would be if a casino employee accidently wrecks a customer's car while parking it, the casino would be liable for the repair of the vehicle. In this case, Nevada general liability insurance would cover the repair of the vehicle and again, the litigation costs if necessary.
Providers of Nevada general liability insurance have financial and peril limits on what is covered and for how much. If you are concerned that the general limits may be too low to cover you for the potential risks your business faces, you may want to consider purchasing umbrella coverage. Umbrella policies are policies that provide additional general coverage where the general policy stop. They are generally offered in increments of one million dollars and will not kick in until all other general policy limits have been exhausted.
Additional Liability Policies
There are several additional policies that can be purchased to add to the general policy. For example, many businesses in Nevada sell alcohol beverages. Any business that sells liquor should consider a liquor liability policy that will provide businesses the coverage of damages relating to the distribution of alcohol. Another popular coverage in today's technological world is E insurance, or coverage for web based businesses. This policy would protect the business against suits from items such as hackers, viruses, or other web related risks. Some companies today require their subcontractors purchase this insurance before providing them a service.
Another popular policy in Nevada is garage or garage keepers liability. This insurance provides coverage for any type of garage operations such as working on a vehicle, parking a car, or storing an automobile. Anyone who has a parking garage or vehicle repair shop can benefit from this type of insurance.
Costs of Coverage
The cost of commercial liability insurance depends on what type of business you have, the risks that are associated with it, how many employees you have, your sales projections, and several other items. Nevada companies that are at a high risk for damages or lawsuits will have a higher premium than companies who have minimum risks. To help lower your policy premiums, you can use the following guidelines.
Institute a safety program. Many Nevada providers will offer discounts for those companies who have a comprehensive safety program in place. These programs must be well documented and be applicable to the business. If your business sells a product, you should add a quality control program that will force your employees to focus on the quality of the product. You could also add an incentive program that rewards employees for maintaining the product controls.
Nevada general liability insurance is important whether you own a small business or a large corporation. If you consider the potential amount of money you would have to spend for even one incident, you can see where liability insurance can help. If you own a business in Nevada, consider purchasing Nevada general liability insurance today.