Georgia Liability Insurance
Georgia liability insurance is essential for all business owners, regardless of the
size of the company. The state offers provision for property and personal damage, as well as damages caused by
employees. There is no single policy or insurance company that is better than the rest. Different companies' prices
and coverage structures vary, making them more convenient for some businesses than others.
There are a few important things to be sure that a policy includes. Although the incidences
of insurance scams are low in Georgia, there are sometimes insurance companies that operate illegitimately and scam
people out of their money, offering insufficient coverage. The first and most important thing to check is who the
underwriter is. As long as the underwriter is a credible and well-established company, the policy will be
Georgia Liability Insurance Requirements
Every business should have personal and property damage provisions. Amounts in
these categories should be chosen carefully. It is much better to purchase more than enough than not enough
coverage. Sometimes it is difficult to determine how much hospital bills and property damages will total. The
extent of the damage is difficult to predict, too. If multiple people are hurt in one incident, it is much better
to have a large aggregate and per-incident amount.
Most Georgia liability insurance policies have an umbrella option. If this is
offered, it may also be called excess liability coverage. This can be compared to a reserve amount. In the case of
a catastrophic event or large lawsuit, the umbrella policy allows extra provisions relating to litigation expenses
and expense coverage demanded by the injured party. If the regular policy's benefits are exhausted, this coverage
will provide some extra options.
Georgia Liability Insurance Tips
Directors and officers liability is often added to a Georgia policy. This
provides coverage for any actions or accidents by officers and directors who face a lawsuit as a result of their
negligence or wrongful act. There are usually specific limits and exact provisions detailed in these clauses. Any
company that has more than one employee in an authoritative position should consider this.
Another important coverage to include in a Georgia liability insurance policy is
employment practices insurance. If employees are fired or choose to file discrimination or harassment lawsuits,
this coverage will protect the company from paying out of pocket for the legal and damage expenses. Most of these
clauses also cover alleged charges of wrongful termination against the company or business.