This article 📰📰📰talk aboutI'm an insurance
to talk about who liability insuranceliability insurance
covers s liability insurance and i'm going
- to use general liability on a business
- to to use in my examples liability
- insurance is designed to cover the
- individual or the business named on the
- policy so the named insured is provided
- coverage now if the named insured is a
- corporation that coverage is typically
- extended to the employees and the owners
- of the business however if there's a
subsidiary with a different name and
it's a different organization they do
different things if they're not named on
the policy they may not have coverage
it's something you need to discuss with
your insurance agency and your company
but who it covers it's designed to
protect the people named on the policy
now there are certain circumstances
where you might want to be named on
someone else's policy if you're an owner
of a lot and you're going to hire a
contractor to build a house for you you
want to be named in the liability policy
of the contractor because if the
contractor makes a mistake and he gets
sued because you own the property you're
going to get named in that lawsuit you
want to be an additional named insured
on his policy so that his policy will
protect you in addition to the
contractor for the contractors
negligence so there are times when you
want to be named on someone else's
policy or someone else may want to be
named on your policy and in that
situation you would ask for a
certificate of insurancecertificate of insurance showing that
you were named on that individuals
policy this is these are definitely
topics you want to discuss with your
insurance professionalinsurance professional especially
because when you design coverage who's
named on the policy is one of the basic
and most critical questions that need to
be reviewed and asked especially if you
have different aliases or different
operating companies that you have or
subsidiaries and you want them as many
of those if they're all going to be
covering the policy you typically want
them all named on the policy depending
with brad sean well we've been
discussing who liability insurance
covers
you
Hey WalletHubbers! Today, we’re going
to be talking about the differences
between liability car insurance
and full coverage car insurance.
The main difference between liability and full
coverage insurance is what they pay for. Liability
insurance only pays for other people’s injuries
or property damage in accidents that you cause.
Full coverage insurance, on the other hand,
includes liability coverage but also adds
comprehensive and collision coverage
to the mix in order to pay for damage
to your own vehicle. Full coverage can even pay
for your medical bills after an accident if you
include other types of insurance, like personal
- injury protection or medical payments coverage.
Because it covers more things, full coverage
insurance is a lot more expensive than
- liability-only insurance. On average, a
times as much as a liability-only policy.
Another key difference between liability and
full coverage insurance is when they’re required.
Liability insurance is required in nearly every
state, while full coverage isn’t required by any
laws. However, if your car is leased or financed,
it’s likely that your lender or lessor
- will make you purchase full coverage.
- Even if you own your vehicle outright, it’s
recommended that you purchase full coverag
of your driving skills, it only takes one
major accident to send you into a financial
crisis. But with a full coverage policy, you
can drive with additional protection and avoid the
financial burden that comes with vehicle repairs.
Now that you know how liability
and full coverage insurance work,
you’re ready to start shopping for
a policy.
e
0 Comments