Liability Insurance

Submitted by frndzzz on Fri, 04/02/2021 - 07:04

What does liability insurance mean?

In simple words, liability insurance means insurance that covers the insured against the claims due to causing bodily injuries and the damage done to the property of unknown people. It protects the insured from the risk of liabilities imposed by a lawsuit, liability insurance also provides coverage for payouts when the insured person is legally liable to pay.

Liability Insurance covers :

There is just about insurance for everything. Here is a list of a few:


Covers the company for a set amount in the case that the company is sued due to something someone in a management position may have done.


Product insurance is for companies that make and/or sell products.  Your product may have faults or could cause potential harm.  This will prepare you for lawsuits that may follow if this happens.


This policy is taken out by someone who wants to protect themself from claims made against them.


Farming is a very dangerous profession. These policies will protect you from any accidents that may happen down on the farm.


If you are a landlord, you are sure to run across some tenets that may just be looking for something to sue you for. Liability insurance can help save you from this.


Have you ever seen a bar fight? Hopefully, they had liquor liability insurance. It pays for damage done to property or injuries sustained by individuals involved in incidents where alcohol has had an influence.


Nurses are usually covered under their employers' insurance, but it may not be a bad idea to get your own.  It will cover the actions of nurses and could be necessary because they have so much contact with patients.


Self-explanatory. If you work for yourself, you need to have some kind of coverage to protect yourself.


When you are away from home, most of your insurance policies will not cover accidents that happen in the country.  Having travel insurance will cover you in case of a robbery or accident while you are gone.


If you keep things in your garage for business or pleasure, you may want to look into something like this. It may be covered by your homeowners, but it won't hurt to look.

Small Business

It is a must. Nothing can sink a small business faster than a lawsuit.


It is mostly associated with doctors, but school officials, attorneys, and dentists are professions that also carry this type of liability insurance.


If you are self-employed or own your own business, personal policies with help in the instance that someone tries to sue you personally if your business can't cover their lawsuit.


If you are an intern at a company that does dangerous work, you may not be completely covered. You probably are, but it doesn't hurt to check. If you are not, look into this type of insurance if you are worried.