Is It Time To Insure Your Business Against Excess Liability?

excess liability coverage

With lawsuit judgments getting larger and larger for many predictable business mishaps, it’s worth taking a moment to review the changes at your company recently and to ask if your coverage is adequate to the current legal environment. General liability and even business-specific coverage like third-party liability for contractors have their limits, though, so it’s not always an option to simply buy more insurance. Nor is it always the best choice. Supplementing a policy that generally covers what you need for basic mishaps with one that provides excess liability coverage under narrow circumstances could save you a lot of money. In some cases, it might even let you lower your coverage limits for your general liability coverage by filling an important gap.

When Does Excess Liability Insurance Kick In?

The point of an excess liability policy is not to replace your general liability policy, but to protect against situations where a court judgment exceeds it. Since its coverage provisions are quite narrow and it doesn’t need to take care of general issues like paying for the medical expenses of people injured on-site outside of a settlement judgment, it can be written to be much more cost-effective for its coverage value than a general liability policy with the same upper limits. This helps you avoid overpaying for insurance without undercutting your protection, and it’s worth talking with an insurance professional about whether it’s a good fit for your business.

Three Fundamental Coverages For New Tax Businesses

Glen Rock Commercial Insurance

Are you looking for insurance to cover your new tax business? While working with a Glen Rock Commercial Insurance agent is the best way to ensure you’re adequately covered, here are three of the basic coverages that you should plan to include in your new policy.

General Liability Insurance

General liability insurance protects you in case a third party sustains an injury or property damage on your premises. This can be someone falling in your office or damaging their car in your parking lot. If a lawsuit is filed, your policy will cover your legal fees and any payments that you’re required to make.

Professional Liability Insurance

Professional liability protects you in case one of your clients suffers a loss because of your services. An example of this is a client being audited and found to owe the IRS because of a mistake on your part. Like general liability, your policy would cover your expenses related to the case.

Property Insurance

Property insurance covers you in case a fire, storm, thief or vandal strikes your property. Your policy would cover the cost to repair or replace your covered items which can include your building, equipment, furniture and digital assets.

Other coverage options are available depending on your needs. An experienced Glen Rock Commercial insurance agent can customize your policy to meet those needs.

Insurance For Individuals and Professionals

arroyo insurance

Insurance For Individuals and Professionals

If you want insurance coverage provided by experts that understand your needs and offer exceptional policies, then you need Arroyo Insurance. This company provides services for individuals and businesses in a wide range of industries, offering protection for both assets and business dealings.

On the Business Side

Insurance policies help lessen the risks businesses face in the industry. There is also a wide range of coverage options. Some of these may suit some companies better than others, which is why an insurance agent helps you determine the level of coverage your business needs. The following is a short list of potential coverage options you can discuss with your agent:

General liability

Professional liability

Cyber liability

Worker’s compensation

Employee benefits

Surety bonds

Umbrella coverage

Commercial auto

On the Personal Side

Although your personal life does not face the same risks as your business, there are still certain aspects that should be covered. That way, you can be protected in the event of an accident or disaster. Insurance products for your personal life include the following:

Homeowner’s insurance

Auto insurance

Watercraft and recreational vehicle coverage

Umbrella coverage

Life insurance

No matter if you are looking for insurance to protect your business or your personal assets, Arroyo Insurance offers the products you need. You can feel secure at work and at home thanks to the exceptional services provided.

3 Common Home Care Agency Coverages

home care agency insurance liability coverage

3 Common Home Care Agency Coverages

Medical professionals have very specific needs for insurance. Those needs become even more unique when it comes to home care agencies. If you’re shopping for insurance, home care agency insurance liability coverage is crucial.

Professional Liability

Professional liability or malpractice insurance helps safeguard the company from errors and omissions or claims of negligence. Even if the claims are unfounded, you still have to deal with legal defense costs. So, without insurance, you could be out money.

General Liability

Every industry and every company needs liability insurance. This will protect your home health care against lawsuits that claim bodily injury, property damage and personal injury claims. For patients in a home environment, trip and fall accidents are more common.

Workers’ Compensation

Home care providers still require workers’ compensation. In the medical field, there are work related risks. In a medical facility, employees are under supervision and health and safety practices are easier to enforce than in a home care environment. This can make employee injuries more of a risk and give you more of a reason for quality workers’ compensation coverage.

In the healthcare industry, it’s crucial that you have insurance coverage. This is particularly true when it comes to home care agency insurance liability coverage. There are risks involved in any medical facility. The risks increase when you take care of a patient at home.

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