We don’t really think a lot about our personal liability or that of the people around us, but there are events in our lives that make us more vulnerable to lawsuits and other legal actions. Today we will focus on when you should look at increasing liability insurance due to personal events in your life. If you’re interested in liability insurance related to a business, see our blog, What Is and Isn’t Covered by Your General Liability Business Insurance? Continue reading What Life Events Require Increasing Liability Insurance?
Tag: Liability Insurance
What Is and Isn’t Covered by Your General Liability Business Insurance?
With a business comes business insurance, the most basic of which is the Business Owners Policy or BOP insurance. In that insurance are three major parts: one protects your assets (Business Property Insurance), one protects your income (Business Income Insurance), and the third protects your liabilities. This third, General Liability Business Insurance, is considered a form of comprehensive commercial liability insurance, but it’s important to understand the gaps that might exist for your business. Continue reading What Is and Isn’t Covered by Your General Liability Business Insurance?
When Should You (And Shouldn’t You) Be Bundling Insurance?
Insurance bundling isn’t a new concept—getting your various types of insurance (homeowners, auto, etc.) from the same company makes both your and your insurance provider’s life easier. Beyond the usual discount incentive, bundling insurance simplifies your logistics—things like paying bills, keeping records, and filing claims are easier. But there are times bundling insurance isn’t going to be in your best interests, especially if the savings come at the cost of quality coverage. Continue reading When Should You (And Shouldn’t You) Be Bundling Insurance?
What Is Umbrella Insurance (and Why Should I Bundle It)?
Did you have an insurance policy fail on you? Be it a gap in your coverage, hitting payout limits, or an issue of liability, there’s a policy that more and more Americans are bundling with their existing insurance policies: umbrella insurance. This inexpensive insurance fills the gaps that other insurance leaves behind when it comes to liability. Today we’re going to answer the question: “What is umbrella insurance?” and discuss how you can bundle it with your other policies to enhance your coverage. Continue reading What Is Umbrella Insurance (and Why Should I Bundle It)?
What is Liability? Understanding Insurance and Risk
When looking at insurance – almost any type of insurance – you’ll see the word liability. It’s at the core of what insurance is for, the paying of costs incurred by the policyholder that is covered under the policy – that’s what liability is: something a person (or company) owes another. But what does it mean in the context of common insurance? And what does it mean to the larger concept of risk in insurance? Today we’re going to answer these questions, including some helpful examples. Continue reading What is Liability? Understanding Insurance and Risk
