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Business Liability Insurance – Looking Deeper

Walking along the beach and looking at the ocean is a very relaxing and calming way to spend an afternoon. The surface of the ocean twinkles with sunlight and all looks calm and peaceful . . . but what might be happening underneath the surface of the water? There are folks who won’t swim in the ocean because they can’t see what’s underneath . . . and so it is with business liability insurance. The general “surface” of business liability insurance is calm and peaceful, but there are aspects to protecting one’s business with insurance that while not appearing on the surface, are part of the whole business liability insurance package. Before purchasing a general liability policy, it may be wise for a customer to take a moment to “see” what’s under the surface . . . and this is where Kaups Insurance becomes invaluable. We connect people with a myriad of reputable companies that appreciate the nuances of business liability insurance and can guide the consumer to a clearer and wiser choice.

Most business owners know of the need for general protection, yet often the focus and passion for what the business does relegates decisions about getting  business liability insurance quote to the back burner . . . and then an accident happens. In the twinkling of an eye, one lawsuit can compromise a lifetime of work; perhaps even completely wipe it out. We strongly urge business owners carefully to examine a little below the surface of business liability insurance by dealing with professionals who have plunged the depths of this service.

Yes, a general business liability insurance policy does protect basic injury claims directly related to the business, but what about:

  • property damage
  • equipment breakdown
  • personal injury
  • copyright infringement
  • slander
  • defamation of character
  • professional negligence (error and omission coverage)
  • cyber data breaches
  • invasion of privacy
  • intentional/deliberate act exclusions

And once these questions have been introduced, then follows items such as:

  • How does one determine the various levels of risk?
  • What kind of harm is possible due to the nature of this business?
  • What is the size of this business that may require additional coverage?
  • What are the basic legal requirements, including those in lease agreements?
  • How much does a general liability policy cost . . . plus necessary additions?
  • Is the policy valid nationwide, international or just local?
  • Might an umbrella policy be required to cover claims above general liability limits?

Business Insurance Policy There are always things that “lurk” below the surface and knowing and planning for them can protect and offer peace of mind for the business owner. That a general policy is necessary is obvious, but what may not be so obvious are the nuances that extend appropriate coverage and expand the limits of protection in the business liability insurance policy. How does one put a value on a business that is the expression of an individual’s passion?  Kaups Insurance understands and can help unite the consumer with professionals who have all the relevant information necessary in purchasing a customized business liability insurance plan that fits!

By David Olmstead

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