As a manufacturer, it’s vital that you carry adequate insurance coverage to protect your investment. As you contact various agents and build out your coverage, here are three simple liability coverages that you should plan to include in your policy.
General Liability Insurance
General liability protects you against third party lawsuits arising from everyday business activities. This can range from a potential client injuring themselves during a tour of your facility to a visitor’s car getting damaged in your parking lot. With the right coverage, you’ll be able to cover any legal fees and liabilities arising from such cases.
“It is impossible to protect yourself against all liability, and it can be extremely difficult to protect yourself against liability where you are only indirectly involved. Fortunately, you have a couple of different options to minimize your risk if you’re concerned about potential liability issues.
Contingent Liability
Contingent liability insurance is a type of coverage that’s intended to cover liability which may or may not be needed. This is because it is dependent on the outcome of a specific event. Potential loss or damage may occur at some point in the future, but it also may not. Until someone discovers a way to reliably predict the future you may want to obtain contingent liability coverage. More information about contingent liability can be found at https://www.usrisk.com.