Personal Liability Insurance: What Happens When Someone Gets Hurt on Your Property

Purchasing the right business insurance policy is an important task.   While policies can vary depending on business size, the type of industry and its sales, there are four basic types of business insurance that all companies should purchase.   These types provide safe and adequate coverage to the business and its employees.

Property Insurance:   In addition to insuring the building, property insurance covers the company’s physical assets, such as office computers, inventory and machinery.   It may also provide operating funds while the business recovers from unforeseen losses, coverage for equipment breakdown and debris removal after a fire or flood.

Liability Insurance:   While every business works to ensure complete customer satisfaction, a lawsuit can still happen.   People may claim that the business gave them a defective and harmful product, or a service error could have been made, provoking them to sue the company.   Liability insurance pays the damages for which the business is found liable and any accrued attorney fees, medical bills and legal defense expenses.  

Business Vehicle Insurance:   A business vehicle insurance policy provides coverage for any auto that the business owns.   This policy pays third parties the cost for physical injuries or vehicle damage for which the company is liable, up to the policy limits.   Additionally, a business vehicle insurance policy may pay to repair or replace the auto.   If driving your own car for business purposes, discuss this with your agent.  

Workers’ Compensation Insurance:   Massachusetts’ employers are required to purchase workers’ compensation insurance to protect their employees.   It pays for medical care and replaces lost wages when an employee suffers an injury on the job.   If an employee dies as a result of injuries, the policy provides compensation to his/her family.   to learn more about business insurance and receive a free quote for this insurance at: http://bit.ly/wwgfSX.

For any business insurance policy and coverage questions, call Vargas & Vargas Insurance at 877-550-0025 or visit their website, vargasinsurance.com.   Vargas & Vargas Insurance is dedicated to finding the right business insurance policy that fits your company’s needs and budget.