Small Business Insurance
Being a business owner means that you are legitimately responsible for every little thing attached with your company. Besides the normal liability you take on with your services or products, you are liable for problems in your personal life even if a person slips and falls out in front of your house. In this world we live in, someone who falls in front of your house could turn around and take assets from a business you spent years building! It’s crazy to say the least, but it’s a fact of life we deal with.
As a general contractor or small business owner, you need to protect yourself in case something happens.
Seeing various US liability lawsuits that have recently been in the news – appropriately or not, warranted or not – your expenses in dealing with these matters could possibly be incredibly high. But with self-employed liability insurance you have an easy, convenient means to protect yourself, your household, and everything you have actually worked for.
In today’s world, anybody could sue you for anything. And a complainant does not need a victory in his case against you to economically ruin you and/or your company. He just needs to submit legal action and push you into racking up expensive attorney bills. That’s pretty much all there is to it. This will certainly force you to spend cash on lawyers to safeguard yourself due to the fact that you have no other option. Ask yourself just how you would pay tens of thousands of dollars or even more to defend on yourself. It doesn’t take much to come to the logical conclusion that self employed liability insurance coverage, which sets you back only a small portion of the price of the alternate headache.
In a well-known case in Dallas, a drycleaner accidentally ruined a guy’s trousers while cleaning them. However, the owner did not have self employed liability insurance. He thought it was just an additional expenditure he didn’t need. But a claim submitted by the customer for a pair of trousers that likely would have cost him less than $200 had he been insured, ended up costing him a small fortune. Spiteful? Yes. Unreasonable? Yes. Yet a real situation in todays world.
Daniel is an Insurance Agent Specializing in General Contractor Insurance and Roofing Insurance. He works at http://www.generalcontractorinsurance.net.