Arizona Business Liability Insurance

Arizona business liability insurance offers the large and small business something that is needed and that is financial protection. The financial protection that is provided keeps you from having to pay out large settlement amounts out of pocket in case a liability issue is the fault of someone in your company.

The protections that are offered by Arizona business liability insurance include bodily injury, personal injury, property damage, and advertising injury. So if there if you accidentally cause injury to another that costs them financially, your Arizona liability insurance provides you with the means to compensate them without having to pay that compensation out of your pocket.

There are, however, some exclusions that you should be aware of. That way you know exactly what Arizona business liability insurance won't pay. It is important that you know what it is they won't pay for so that you can do what you need to in order to fill in any coverage gaps. Coverage gaps could cost your company a lot of money and they have cost companies a lot of money in the past. You don't want to be one of those.

Exclusions

Your Arizona business insurance excludes professional liability. This means that failure to perform professional duties or professional negligence is not covered. Unfortunately, this is a category of negligence that has put some businesses out of business since there is no monetary protection. And, unfortunately, this form of negligence can cost more than bodily injury or personal injury damages.

To protect yourself against professional liability, you can purchase a separate Arizona business insurance policy to protect you. This will increase your premium, but is something that you may need for your AZ company. One way to make sure you stay within budget is to look at quotes. This will allow you to see what different levels of coverage will cost you so that you know what you can add on.

Keep in mind, however, that you want to add what you can to your Arizona business liability insurance so that you can ensure there are no coverage gaps. These gaps could cost you a lot of money and, there are some businesses in Arizona that find themselves closed or severely damaged financially when they have to fill the gaps on their own like that.

Another area your coverage doesn't cover is any discriminatory or unfair practices. This includes any termination or hiring-related claims. So if an individual says that they were not hired due to discrimination, the claim won't be covered. If the claim has to do with being fired due to discrimination, discriminatory firing is not covered by your business liability insurance in Arizona either.

All-in-all, if an employee states that someone within your company treated them unfairly and they make a claim against you because of it, there is no coverage for it. If you are worried about this type of claim being made against you, you can invest in additional protection against this possible threat. Although some individuals within a company do not mean to discriminate, it can happen.

You also need to be cautious when working with subcontractors. If a claim is due to a subcontractor that didn't do their job, your Arizona business liability insurance will most likely not cover this area either. When using subcontractors, you may wan to see if they have their own form of Arizona liability insurance so that the claim can be directed toward the right place.

Covering Exclusions

You can cover your exclusions under your Arizona business liability insurance through add-ons. You will need to evaluate the coverage areas of your Arizona business liability insurance to see what you have covered and what you don't. You then need to add what you don't have covered because it could cost you a lot of money to have an AZ business that is vulnerable. Review all of your options so that you can identify what you need and what you don't need.

Although this does increase rates, it can be well worth saving yourself thousands of dollars in damages that you would have to pay out of pocket otherwise. Arizona business liability insurance is your security blanket against litigation. Your court costs are covered and so are the damages. That way all you have to worry about is your premium and any deductible that must be paid to help you.

So don't leave yourself vulnerable when you have Arizona business liability insurance to cover you. The exclusions that are present are there because not all businesses need the same protection. Add-ons allow you to customize your insurance to fit your specific needs, keeping you from being vulnerable to claims that could result in very large damages that would have to be paid out by your company.

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