Coverage For All Kinds of Accidents

In any situation in which you may be responsible for the actions of others, you’ll need to make sure you’re financially secure with the help of liability insurance. It will help you stay protected in the event of an accident on your property. Liability insurance can cover different incidents that are common among events and businesses, including liquor liability.

young people at bar drinking

What is Liability Insurance?

Liability insurance is financial protection in case a person or property for which you are responsible causes or incurs damage. Reasons you may need liability insurance protection include:

  • Bodily injury
  • Property Damage
  • Negligence

Should you encounter these types of situations, you may need to pay for damages and legal fees that are included as part of the justice system. To reduce legal consequences it’s best to have insurance that will help cover the cost of liability.

Liability insurance helps protect from the full cost of defense, fees and damages.

man falling in office

Types of Liability Insurance

Umbrella Insurance

Umbrella insurance is designed to add extra protection to insurance policies you may already have. An umbrella policy provides “excess liability” above the limits of your underlying home, condo owners, auto, or boat policies. It can help protect you from bodily injury liability claims and property damage liability claims. Umbrella policies also provide a broader form of coverage and may cover legal fees, false arrest, libel, or slander.

If you are sued for frivolous reasons, you might have to pay a lawyer an estimated $400/hour to defend yourself. With an adequate umbrella policy, the money at risk may be the insurance company’s instead of your own.

Personal umbrella liability can protect your family and the things you have worked hard to obtain – including your future wages. It’s a smart way to achieve peace of mind, and usually for less than .75 cents a day.

red umbrella with briefcase

The policy is based on the possibility that there is an error or omission in goods or services on the part of the service provider.

Professional Liability (E&O)

Professional liability insurance or PLI, is also often called Errors & Omissions or E&O in the US.

It is a type of liability insurance that provides protection for professionals and companies from undertaking the full cost of defending a claim made by a customer or client and the damages that are awarded.

The policy is based on the possibility that there is an error or omission in goods or services on the part of the service provider. If a client or customer is able to prove the existence of such an error, the service provider will be liable.

Workers Compensation

Workers’ compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.

It may provide covered employees with income and medical compensation for a work-related injury. Employees must prove that the injury was the fault of the company.

Workers compensation is handled on a case-by-case basis.

Employees must prove that the injury was the fault of the company.

Restaurant, Coffee Shop, Tavern & Food Trailer Insurance

Small or mobile food service establishments need specific licenses and must follow stringent guidelines for operation. Accordingly, they also have special requirements for insurance.

General Liability can cover food borne illness, slipping and falling, and property damage caused to other businesses
Property covers the building or contents of the establishment and its equipment
Concession Stand coverage for vandalism, fire, wind, and hail damage
Auto, Trailer & Truck liability, property damage, theft, vandalism, collision, fire, hail and collisions
Workers Compensation can cover employee injuries
Liquor Liability Any business that sells or serves alcohol including restaurants, nightclubs, coffee shops, bars, and b.y.o.b venues can be held liable for damages or injuries caused by intoxicated patrons

There are also optional coverages such as loss of income, food spoilage, and excess liability

Employment Practices Liability

Also known as EPLI, employment practices liability insurance can protect against wrongful acts that have arisen from employment. Those who file claims pertaining to EPLI believe they have been wronged by the practices within their place of employment by either their superiors or fellow employees.

Wrongful acts in a place of employment may include:

  • Wrongful termination
  • Discrimination
  • Harassment

Especially in larger companies, employment practices may be difficult to control without trusted management and well-running processes. EPLI helps offset the cost of dealing with wrongful acts as they arise and keeps business practices moving forward.

Unexpected accidents and injuries can make owning a home, running a business, or hosting an event a challenge. Stand up to the challenge with the help of liability insurance from Britton & Britton.