Popular in Course
verified elite notetaker
Popular in Business
This 3 page Document was uploaded by an elite notetaker on Sunday December 20, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 6 views.
Reviews for The-Different-Types-Of-Liability-Insurance
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 12/20/15
The Different Types Of Liability Insurance Liability Insurance Page 1 P eople say that one of the investments that you should always make is that of insurance. Aside from life insurance, the second most important insurance that you should have is liability insurance. Liability insurance is a member of the family of insurances that helps pay and shoulder costs of claims made by persons who have held you liable of damages, and the like. It is created to answer the costs of claims made by people who are not part of the insurance policy. This liability insurance is essential for persons who can be held legally answerable to the damage on other persons like doctors, nurses and owners of business establishments. For example, a business establishment that manufactures products may buy the product liability insurance so that the policy can pay a person who was injured because of using the product. One more illustration could be that when a company gets a liability insurance so that expenses when an employee gets injuries during work is covered. Liability Insurance Page 2 Presently, you get to choose from a number of liability insurances. Firstly, there’s professional liability insurance which safeguards professionals who are practicing their profession such as doctors and accountants from clients and patients who have claims against them. Also another kind is product liability insurance which protects you from claims on any defective products your company manufactured. Last but not the least is the most common type of insurance - general liability insurance which protects companies from injuries sustained by employees, damage caused by employees and other related issues. So why is this popular and what is general liability insurance? General liability insurance simply answers both the expenses that could be incurred by public and product liability risks. The risks that are talked about here are injuries to the body, damage on property and many others. This spells out why this kind of insurance is very common. If this type of insurance greatly interests you, then you must know what it is all about. These things include general liability insurance quote and workers compensation quote. What's even more essential is being able to get a great insurance company. To those who want to get the most budget- friendly quote, you must practice comparing the different quotes. It is vital to be aware of the fact that the cheap quotes cannot really cover more, but if you are running low on budget, it is the most convenient. Liability Insurance Page 3
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'