San Antonio Business Liability Insurance

San Antonio business liability insurance agents occasionally attempt to scam small TX companies. San Antonio agents have a number of opportunities for fraud against both insurers and customers. For example, premium frauds, false death claims and fictitious policies are just a few ways that an agent can cheat.

If you are considering purchasing San Antonio business liability insurance, it is important to look for a trustworthy agent. You will need to be cautious when purchasing a plan for your San Antonio business, because it's essential to have high quality liability coverage for your business. You can watch out for common scams, and also be sure to use your instinct when choosing an agent.

Agent Fraud

Sometimes agents will add extra coverage that you don't need to your Texas commercial liability policy. For example, do you really think you need protection from earthquakes in San Antonio? An agent might try to convince you that you need protection for natural disasters that don't occur in Texas.

Adding unnecessary Texas liability coverage will allow the agent to get a higher commission. This is called "sliding". Make sure you understand everything in your San Antonio business liability insurance policy to avoid falling into this trap.

An agent may also try to convince you that your San Antonio business can get extra coverage at no charge. He or she might tell you that the value in your original commercial policy will allow you to get add-ons. However, this is called "churning". The truth is, extra insurance is very expensive.

Another trick an agent might try to pull is called "twisting". Twisting involves replacing your old policy with a new one, because first-year premiums have higher commissions for agents. Obviously, if an agent advises you to change policies next year, you want to make sure it's for a good reason.

Like all salesmen, agents can be very talkative and charming and may convince you to buy something you don't need. The best way to avoid any of these scams is to choose a broker you really like. Obviously, not all insurance agents in Texas are evil. Trust your intuition and choose a reliable San Antonio business liability insurance agent to protect your company.

Also, San Antonio insurance companies and agents aren't the only guilty ones. Sometimes, for example, a business owner will burn down an insured building to cash in on the property insurance. These kinds of scams are accounted for, and because of such occurrences you have to pay a higher premium. Insurance just happens to be a field where fraud comes into play in a lot of different ways.

Making a Claim

Your San Antonio business liability insurance will protect you from third-party claims against you. Business insurers should help you plan your response to potential liability claims. You and your employees should know how to react if there's a potential liability claim against you.

Most San Antonio business liability insurance companies will offer your ideas on how to lower your premium by reducing risks. However, if your insurer does not address how to respond in the case of an accident, you should ask. Being prepared in the case of an accident can help protect your company.

If there's an incident on your property, you will probably want to call your San Antonio business liability insurance company. For example, if someone breaks a leg on the steps of your store, you should contact your agent or insurer. You should report most incidents that may cause a liability claim as soon as you can. Your insurer will provide you with an attorney since they have the "duty to defend".

An unreliable San Antonio business liability insurance company will not respond to your claim immediately. Not contacting an attorney immediately can save an insurer money, but a good agent will insist that the company acts quickly. It's always a good idea to contact an attorney as soon as possible when dealing with an issue.

Your insurer will contact the third party if they make a claim, but you should not speak to the injured party. You should decline all calls from the third party and refer them to your attorney. Once a claim has reached this stage, you have very little say in the goings-on, as it is in the hands of your San Antonio attorney and insurance company.

The insurer will evaluate the claim and assess the damages. Most likely the claim will be settled, but the injured party may file a lawsuit against your TX business. Your insurer should cover all legal fees and damages. Unfortunately, the process may take awhile, and if it's a large claim, your premium may go up. Ask your San Antonio business liability insurance company about making a claim so you know what to expect.

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