Cover Yourself With Self Employed Liability Insurance

When you work for a company, you do most things in the name of your employer. You do as he asks, and when something goes wrong, particularly if there is a lawsuit filed against you or the company, the company is responsible for taking care of it. Liability insurance is what most often covers claims against the company for injury or damage due to flaws in the product or service provide or just on the company property.

If you have your own business, you do not have this protection. You must think of everything and take charge of your own future. You have worked hard to get your business up and running, but you need to protect it from any potential problem that might be too much for the company to take.

Lets say you operate a consulting business out of your home. A client comes to your office for a consultation and slips on an icy step and sustains an injury. If he should choose to sue you, you are in a bad situation. You may end up paying for medical fees, lost wages and other compensation as well as expensive legal fees. Paying for this will likely prove very difficult if not impossible without the bankruptcy of your company and possibly the loss of your personal assets as well.

A self employed liability insurance policy will protect you from such devastation. You can look into different policies and choose one that will provide you the coverage you think you need. An insurance agent can help you make a well educated decision about which policy is best for you. The self employed liability insurance will have a limit up to which it will cover rewards and legal fees as named in the policy.

Another good option is to have a personal umbrella liability insurance policy. This is good for everyone, not just the self employed, but can be very handy for the self employed because it provides additional protection of the personal assets not related to the company.

What a personal umbrella liability insurance policy does is provide protection above the limits of other policies you hold. For example, if you have home owners insurance with a limit of $200,000 and a fire causes twice that much damage, you personal umbrella policy will cover the second half.

If you have a self employed liability insurance and personal umbrella policy in place, you can rest easy knowing that you are not at risk of losing your entire company due to one mistake or accident. And the personal policy is not very expensive, but can mean the difference between losing your company, even though you had insurance, and not having to pay anything out of hand!

 






 

Liability Insurance News:

 

Update: Insurance Won't Cover Home Infested With Dead Birds - KTSM News Channel 9

Update: Insurance Won't Cover Home Infested With Dead Birds
KTSM News Channel 9
By Jacqueline Crea - Multimedia Journalist UPDATE-Today the insurance company visited the Mancilla home to assess the situation in their attic.The visit only confirmed the family's worst nightmare. The insurance policy apparently does not cover animal .

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Santorum is wrong on insurance and prenatal testing - StandardNet (blog)

Santorum is wrong on insurance and prenatal testing
StandardNet (blog)
Rick Santorum made a big mistake by blasting ObamaCare for EURrequiring health-insurance companies to cover certain prenatal tests, because some procedures are used to identify abnormalities and EURencourage abortions.EUR (Read) Santorum's also wrong on the .

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Employers' Liability: What to Know About the ELIB by Simpson Millar LLP
A 2012 legal update by Simpson Millar LLP on the Government proposals for an Employers' Liability Insurance Bureau (ELIB).Bristol, Somerset (PRWEB UK) 13 February 2012 The 2010 Government proposals for an Employers' Liability Insurance Bureau (ELIB) are designed to ensure that, if an insurer cannot be traced, workers who develop diseases will be compensated in the same way that someone hit by a ...


D&O Liability Insurance | C5 Conferences, Events, Publications
European Sovereign Debt: How can insurers maintain profitability during the crisis?..


India ships to lose insurance due to Iran sanctions, may look to China - Reuters

ABC News
India ships to lose insurance due to Iran sanctions, may look to China
Reuters
State-run Shipping Corporation of India, the largest tanker owner in the country, will lose EU insurance coverage for its oil tankers operating in Iran from July 1, when European insurers will be prohibited from indemnifying ships carrying Iranian oil.
Indian ships will lose insurance due to Iran sanctions, may look to ChinaEconomic Times
Indian Ships To Lose Insurance After EU Sanctions Against IranThe Maritime Executive

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Liability insurance rates for health care organizations could rise in 2012: Marsh
Health care organizations seeking commercial liability insurance in 2012 are likely to find conditions in the marketplace more challenging than they were a year ago, according to a Marsh Inc. report published Monday.Although premium rates for policies that health care companies typically buy..


City's liability insurance costs up 3 percent
PARKERSBURG-City officials are projecting an increase to the police department's liability insurance next year, but Mayor Bob Newell said the increase is routine and not related to recent lawsuit settlements...


Research and Markets: UK Employers' Liability Insurance 2011 Report Analyses Competitor Profitability and Performance .
Research and Markets has announced the addition of the "UK Employers' Liability Insurance 2011" report to their..


 

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