LIABILITY INSURANCE

LIABILITY INSURANCE

Liability insurance any type of  policy insurance that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence.

Liability insurance policies cover both legal costs and any legal payouts for which the insured would be responsible if found legally liable.

 Intentional damage and contractual liabilities are typically not covered in these types of policies.

A product manufacturer may purchase product liability insurance to cover them if a product is faulty and causes damage to the purchasers or any other third party.

Liability insurance is very important for those who may be held legally liable for the injuries of others, especially medical practitioners and business owners.

 Business owners may purchase liability insurance that covers them if an employee is injured during business operations.

Vehicle liability insurance has two components always included together: Bodily Injury coverage and Property Damage coverage.

Vehicle liability insurance is the basic insurance coverage that covers injuries or damage to other people or property if you're at fault for an accident.

General Liability insurance is coverage that protects you against financial liabilities resulting from accidents such as spilling paint on someone's carpet or someone slipping on your floor.

Bodily Injury (BI) will cover hospital and medical bills, rehabilitation, long-term nursing care, funeral expenses, lost earnings, pain and suffering, and other expenses, up to the limits you select.

If you cause an accident that damages another person's property, the Property Damage (PD) portion of your Liability insurance will pay for the related expenses. 

 Property Damage (PD) will cover the expense to repair or replace damaged items, including other vehicles, lamp posts, houses or even a pet, up to the limits you select.

Liability insurance also will pay for your legal defense costs if you are sued as a result of your involvement with the accident.

Anyone who drives a vehicle needs Liability insurance. In most situations, Liability insurance is required by law.

These limits determine the maximum amount your insurance company will pay if you need to use the insurance coverage. Limits are described either as split limits or as a combined single limit.

 For-hire truckers operating under their own authority must have Liability insurance in order to obtain a filing. Liability insurance requires you to select limits.

  

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