Is Defective Product Liability Covered Under My Commercial Insurance Policy?

Defective products create liability. In most cases, your commercial policy will be able to cover any damages caused by a defective product that you either sold or manufactured as long as you had no idea there was a problem. The agents of Koverage Insurance Group serve businesses in Enfield, CT that may require commercial insurance that covers defective product liability.

Knowing Your Liability Limits

Most commercial policies have liability limits that can range between $100,000 and $1 million, depending on the types of products or services you offer. Knowing and understanding these liability limits will help you determine if you are sufficiently covered or if you may need to increase your coverage. Commercial policies are designed to protect you from financial loss, but sometimes you may need to supplement that coverage.

Adding an Umbrella Policy

If you have concerns that your existing commercial policy may not be sufficient, you have two options. You can increase your liability policy, or you can choose to purchase an umbrella policy. Umbrella policies are more expensive but will cover you over and above the limitations of your commercial policy.

If you own a business in Enfield, CT, contact the agents of Koverage Insurance Group if you have questions about your commercial insurance coverage and your defective product liability limits. With our many years of experience, we can provide you with sound advice and assist you in getting the right amount of coverage to meet your needs. Having a sufficient amount of commercial coverage is essential for peace of mind and a solid sense of security. Speak to an agent today or visit our office to get the answers you need.

Must Have Commercial Coverage for Small Businesses

Protecting your small business with commercial insurance will help it prevail through the good times and the bad. If you’re not prepared, an unforeseen disaster could lead to financial ruin. Commercial insurance from Koverage Insurance Group can protect your Enfield, CT enterprise from liability claims, property damage, loss of inventory, loss of income and more. Here’s the coverage you need to protect your fledgling enterprise:

Business Property

Business property coverage will protect your building, business equipment, inventory and signage from disasters like fire, wind damage, hail, rainstorm and more. You never know when disasters will strike but you can be prepared with proper insurance coverage.

Liability Coverage

As a business owner, you have several choices of liability coverage – general liability and professional liability. General liability protects your business from accidents customers may have on your property by covering the cost of their injuries or property damage. Professional liability protects you against claims customers may make against you or your employees due to faulty services or products.

By purchasing a BOP (small business owner’s policy), you get both of these coverages in one policy as opposed to buying them separately.

Workers’ Comp Insurance

If you have one or more employees, most states require that you get worker’s comp coverage to protect your workers against injuries on the job.

Business Interruption

Business interruption can protect you against financial loss if you have to shut down temporarily due to a disaster. This coverage covers loss of income, employee wages and the rental of a temporary location while your old place is being repaired.

Commercial insurance is your first line of defense against disasters that can cause you financial loss. For customized commercial insurance coverage to meet your business needs, contact your Koverage Insurance Group agent in Enfield, CT.