Liability Insurance

Liability insurance covers a person against debts that they would have to pay as a result of losing a legal action.

Business liability insurance

Commercial liability insurance is a major part of business insurance. When a customer or a member of the public suffers because of the business’s actions then the business will become liable. A business is also responsible for the actions of its employees when carrying out their jobs. The multi-million dollar cases have often put an end to otherwise successful small businesses. Public liability insurance aims to protect against this.

Employers liability insurance covers the liability for when an employee is injured or otherwise harmed at work. It is designed to cover the employer if something goes wrong and an employee has a case for damages.

Liability insurance tends to have fairly high pay out thresholds as it is designed to cover an emergency. This means that a business is likely to pay out a large amount of money if there is a successful claim, but the insurance will make the difference between a bad loss and a business threatening loss.

Professional liability insurance

People put a lot of weight on advice from professionals. This means that if the advice is wrong then a lot can be lost. Whether surveying a house, advising on the chances of winning a legal case or the legality of a tax scheme, professionals risk not just their reputations when they give an opinion. In an increasingly litigious society it is a good idea to have some sort of financial back up when even the best advice can go wrong. This is what professional liability insurance does.

Usually some form of professional liability insurance is offered through the professional body. Whether its insurance for lawyers, insurance for doctors or insurance for accountants; professional liability insurance is always important for anyone with any seniority in a professional position.

Auto liability insurance

The core thing that auto insurance insures insurance is the liability for any injury caused by the driver to a third party. Every province requires all drivers to have some form of car insurance in place to protect third parties.

Liability insurance quotes

Although it is possible to get some liability insurance quotes online, the widest choice of liability insurance quotes are usually best done through an insurance broker due to the specialist nature of liability insurance. To get the best deal the broker needs to know various that regulate the risk, such as the level of qualifications of the staff or the type of work that is accepted. It’s not usually simply a case of the best quote price, but also the case of what is excluded in the quote. Unlike commercial insurance providers, business liability insurance is not a commodity.