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Liability Insurance FAQ
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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 reliable.

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.