Frequently Asked Questions about a business insurance
When you get insurance for your business there can be many questions about how it works or what it covers, most policies are individual and very specific to the type of operations the business runs and the risks it goes under in its daily activities, however, here you will find the most common question about this insurance:
1. What does Liability means and what does it cover?
Liability is the number one coverage that all businesses look for, and it’s because it helps the company with any damage generated by failures, mistakes, or negligence during the execution of work activity. This insurance works for self-employed professionals or companies in order to protect themselves against any type of mistake that may affect a third party. For example, an employee leaving the floor wet and causing a customer to get injured or cooking the food wrong (in case it is a restaurant).
2. Differences between general liability and professional liability insurance
A general liability insurance guarantees that the company will be protected in case of any material and human damage caused to third parties in the development of the insured activity.
Professional Liability covers economic, patrimonial, or physical damages caused by any mistakes in the execution of the professional activity. Therefore, the damages caused by the professional, inside the facilities where they carry out their professional activity, or caused by an employee, would be included.
3. What else other than liability is covered by business insurance?
The most basic policy will only cover liability, however, it is recommended to get a more complete package. A premium package can include:
- Property damage due to extreme climatic changes
- Robbery
- Plumber and electrician
- Fires and explosions
- Salaries in case activities have to be put on hold due to situations like floods, pandemic diseases, fire, explosions, etc.
Have any questions? Contact us! Don’t wait any longer, protect your investment and patrimony today. At AIR Insurance, we are ready to help you at any time and build a custom policy that fits your business needs with our “360º Insurance Guidance”. For more information, call +52 55 4444 6043 or send us an email at info@air.com.mx
