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I don't see any need for liability insurance in the case you described. In cases where you have a homeowners association or a condo owners association and they own common property such as a swimming pool, parks, roofs, sidewalks, etc. then they would have a need for both property and liability insurnance to cover these areas. This is what you dues are in place to pay for as well as maintenance.
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Where can I learn more about personal liability insurance?
Personal liability insurance is a common type of insurance, and just about every agency from Allstate to Geico and State Farm can provide you with the information you're looking for.
Where can a Homeowner's Association purchase insurance for a summer outdoor pool?
Local independent insurance agents are able to place "package policies" which include common area property values, common area general liability and swimming pool liability.
How General Insurance Can Protect You?
"General insurance" is the umbrella term used by the insurance industry to describe all policies other than life insurance policies. This includes various types of insurance for individuals as well business policies. The two most common types of general insurance for individuals are automobile insurance and homeowners insurance, both of which can include property and casualty coverage. The two most common types of general insurance available for businesses are commercial auto liability and commercial general liability. Other commercial general insurance products include premise liability, professional liability, product liability and operations liability. An increasingly popular commercial product is business interruption insurance that provides the business owner with income should a disaster fall that is covered by other parts of his or her policy.
If you only have liability insurance will it pay your hospital bill?
No. Liability insurance is only for injuries and damage suffered by others. So if you are injured and it's the other driver's fault, then their liability coverage will pay your medical bills. But if the other driver doesn't have liability insurance, which is illegal nearly everywhere but still pretty common, then you're in trouble. If you're at fault, then your own liability insurance does nothing. You could sue the responsible driver to get the money. Since people who don't have insurance tend not to have a lot of spare money, you will likely end up relying on your own health insurance. You could also buy Uninsured Motorist insurance for bodily injury as part of your car insurance, which pays for your health costs if you get hit by a driver without insurance. Personal Injury Protection insurance can also be bought as part of your car insurance, which pays the health bills of an insured driver, regardless of who is at fault.
What insurance is the most important for small businesses?
The most important insurance that a small business can have is public liability insurance as accidents can happen and this is the most common accident that will happen that will result in a pay out.
What do liability and fixed liability have in common?
no, never
Where do you find general liability Insurance for your exotic animals?
This is not common like Homeowners, so you will probably have the best luck going to an independent insurance agent with access to a few MGA's (Managing General Agencies) who have access to a Liability market (insurance company) for this. You might also consider Animal Mortality coverage. See link below.
Important Reasons to Obtain Liability Insurance?
Liability insurance is one of the most important forms of insurance for business and property owners because it protects against individuals from potential risks incurred by third-party claims. The most common types are general liability, professional liability and worker's compensation. General liability applies to homeowners, renters and business owners. It protects against lawsuits that may arise from accidental injury on the premises, property damage, negligent acts and the like. Professional liability covers the work of doctors, consultants, accountants, and attorneys. Worker's compensation covers risks that employees may encounter while performing their jobs.
What is commercial liabilty insurance?
Commercial Liability Insurance comes in two forms. One is for the workplace itself and one is for the product liability. So if you are in business, you need to insure for someone getting injured on your premises or in your parking lot if that is part of your premises. This can be for slip/trip and falls (most Common) to your building caught on fire and it also caught the building next to you on fire. Another aspect of this part of the insurance is if say a contractor accidentally damages or injures someone on the job. After the job is done is when the Product liability take effect. If the job is not performed right, or two days later the ceiling falls in after replacing your roof, etc. There is a special liability coverage for white collar products, such as doctors, lawyers, insurance professionals, etc. That is Professional Liability Coverage and is not normally part of the common Commercial Liability Coverage. I worked in commercial insurance for 20+ years, but I've been out of it for a while so some of my terms may not be exact, but the concepts never change.
What is professional liability insurance in the medical profession?
Medical Malpractice InsuranceIn the medical profession the most common term for professional liability insurance is knows as "Malpractice Insurance". AnswerSometimes doctors make mistakes and lawyers sue them to collect monetary damages. Sometimes doctors do not make mistakes but lawyers still sue them to try to collect money damages. Some lawyers, such as former vice presidential candidate Edwards in North Carolina, have become billionaires suing doctors. With so many lawsuits so often, doctors must hire lawyers and purchase insurance. If they did not, one verdict could wipe them out. They purchase professional liability insurance. When the doctor faces a lawsuit, the insurance company provides the lawyer and if there is an unfavorable verdict, the insurance company pays.The doctor pays for this service in advance. 10 to 20% of what you pay to see a doctor can go for his liability insurance.
What are common areas in a subdivision?
Common areas in a subdivision typically include amenities such as parks, playgrounds, community centers, swimming pools, tennis courts, and walking trails. These areas are often owned and maintained by a homeowners association or the subdivision developer, and are meant to be enjoyed by all residents of the subdivision.
What is under insurance over insurance?
Under insurance is not carrying enough insurance to cover your assets in the even of a liability claim or not carrying enough insurance to satisfy your bank / lienholder. Over insurance is carrying more insurance than you need. This is more common with home insurance. For example, insuring a 1000 square foot house for 1,000,000, would be considered more insurance than you'd ever need.
