• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US TODAY | (817) 563-5555
Matthews Insurance Group Logo
Best Car Insurance Agencies in Arlington
Helping Texans Spend Less
on Insurance Since 1992!
How Much Can We Save You?

  • Home
  • Get A Quote
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Mexico Travel Insurance Quote
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
    • Health
    • HomeownersImage of right arrow
      • Manufactured Home Quote
      • Home Insurance Quote
      • Agent Consultation Request
    • Insurance
    • Life
    • Motorcycle
    • Personal Umbrella Insurance
    • Recreational Vehicle
    • Renters
    • Trucking
    • Watercraft & Boat
  • Customer Service
    • Online Account Access
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Homeowners
    • MotorcycleImage of right arrow
      • Request ID Card for Motorcycle Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Motorcycle from Existing Policy
      • Add Driver to Existing Motorcycle Policy
      • Remove Driver from Existing Motorcycle Policy
    • Recreational VehicleImage of right arrow
      • Request ID Card for Recreational Vehicle Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Recreational Vehicle from Existing Policy
      • Add Driver to Existing Recreational Vehicle Policy
      • Remove Driver from Existing Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Request ID Card for Watercraft Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Add Watercraft to Existing Policy
      • Remove Watercraft from Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Insurance Glossary
    • News Center
  • About Us
    • About Matthews Insurance Group
    • Location Map
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us

Auto Insurance AUTO

 

Home Insurance HOME

Business Insurance BUSINESS

 

 

Motorcycle Insurance MOTORCYCLE

 

RV Insurance RV

 

Life & Health Insurance LIFE & HEALTH

 

Home > Blog > What are the Types of Liability Insurance?
MONDAY, FEBRUARY 17, 2020

What are the Types of Liability Insurance?

When someone mentions liability insurance, they usually think of general liability insurance. But this insurance isn’t as straight forward as it seems, nor does it cover all types of liability risks.Restaurant with an ocean view

General liability insurance steps in if you (or your business) cause bodily injury liability or property damage to someone else. General liability is a term used in auto, home and business insurance policies. Although the danger and the means of injury or property damage change, the coverage remains, at its base, the same. This insurance is extremely important for both casual homeowners and business owners. Whether you’re having people hang out by your pool or inviting customers into your restaurant, accidents are bound to happen. It’s important to know that anyone injured can receive the medical attention they need and that you won’t lose all of your money if the victim decides to sue. It can also cover issues concerning libel, slander, wrongful eviction and copyright infringement.

There are certain areas general liability doesn’t cover, however. General liability does not cover:

  • Employee injuries (if the policyholder is the employer)
  • Criminal acts
  • Negligent acts
  • Auto accidents
  • Loss of products
  • Product liability

Luckily, there are other liability insurance policies that you and your business can utilize. Some insurance is required by law in certain states to protect other people. For example, two common insurance policies required for businesses are:

  • Workers Compensation: Part of workers compensation is medical payments for the victim, but the other half is liability coverage. If an employee is injured at work, workers compensation helps pay legal expenses if the employee decides to sue after the injury.
  • Commercial Auto Liability: Commercial auto insurance also includes other coverages, but it also includes liability. In most states, you must carry a certain amount of bodily injury liability and property damage liability coverage. This is to ensure that the victim of an accident ruled to be your fault will receive compensation for the damages.

Check your state’s insurance requirements to make sure you have the right amount of coverage. Some insurance isn’t required legally but is extremely valuable to protect against different risks. Optional liability insurance includes:

  • Professional Liability Insurance: Professional liability insurance covers claims of negligence. In other words, it protects you and your business if you’re accused of causing a client to lose money. This is helpful for industries such as accounting and consulting.
  • Directors and Officers Liability Insurance: Also known as D&O insurance, this liability insurance protects the business if a director or officer of the board is sued due to an action made while serving on the board.
  • Cyber Liability Insurance: In the modern era, more and more information is stored online. Cyber liability insurance can help protect your business if client information is lost or stolen from a cyber-attack.
  • Crime Insurance: Though you try your best to vet your employees carefully, the unexpected is always possible. Crime insurance can help replace funds if an employee is caught stealing company funds or committing fraud.
  • Product Liability Insurance: If your business sells a product or service, product liability insurance can cover you if a product or service causes bodily injury or property damage.

How Much Does Liability Insurance Cost?

Liability insurance costs vary depending on several factors. If you’re a homeowner, general liability insurance comes as part of your homeowners insurance policy. As a business owner, you may purchase different liability insurances alone or as part of a package. A business owners policy (BOP), for example, combines property coverage and general liability into a more affordable package for small business owners.

ALSO READ:  General Liability Insurance for Back Pain from Customers

Posted 11:43 AM

Tags: liability insurance, business insurance, homeowners insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2016
  • 2014

  • business insurance(10)
  • auto insurance(6)
  • workers comp(4)
  • car insurance(4)
  • general liability(3)
  • home insurance(3)
  • tips(3)
  • commercial auto insurance(3)
  • accident(2)
  • flood insurance(2)
  • electricians(2)
  • liability insurance(2)
  • pools(1)
  • texas insurance(1)
  • renters insurance(1)
  • low rate insurance(1)
  • frozen pool pipes(1)
  • general liability insurance(1)
  • independent agent(1)
  • freezing(1)
  • flu tips(1)
  • insure(1)
  • startup(1)
  • pipes(1)
  • who should i list(1)
  • insurance rate increase(1)
  • accident forgiveness(1)
  • insurance quote(1)
  • cheaper auto insurance(1)
  • drivers(1)
  • employment practices liability insurance(1)
  • epli(1)
  • cheap auto insurance(1)
  • insurance(1)
  • direct(1)
  • claims(1)
  • online(1)
  • insurance claims(1)
  • homeowners insurance(1)
  • motorcycle insurance(1)
  • auto insurance rate(1)
  • hvac insurance(1)
  • commercial insurance(1)
  • swimming pool(1)
  • cheap auto insurance texas(1)
  • frozen pool equipment(1)

View Mobile Version
Facebook
Twitter
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Twitter Logo
Tweets by @insurancedudes

Resources

Home About Us Get a Quote Customer Service Newsletter Contact Us

Contact Us

image of compass

 

  • 5840 W Interstate 20
  • Ste 135
  • Arlington, TX 76017
  • O: 817-563-5555
  • T: 844-MIG-2015
  • F: 817-701-0266
© Copyright. All rights reserved.
Powered by Insurance Website Builder