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Liability Insurance
What are the advantages of insuring our liability?
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[QUOTE="Richee84, post: 255064, member: 42448"] [B]One very good part of insuring our liabilities is to keep us off debt from all our creditors. Most business usually have their assets and liabilities, this two are component parts of every business. Insuring of company or business asset is common among business owners or entrepreneurs, assets of a company include; the company buildings, the company vehicle, company land and so on. Fixed Asset are mostly tangible in nature while current assets include company stocks, company cash e.t.c. All this asset can be insured against unforeseen circumstances that may happen to the company asset. Liabilities on the other hand referred to what the company or business is owing to it creditors in the cause of doing business. People hardly go into insuring their liabilities against future occurrence and this is due to the fact that most people are not aware that they can also insure their liabilities just the way they insure their assets and other properties. There are many benefit attached to insuring our business or company liabilities against future occurrence. When a company run into huge debt that the company is unable to pay it debt from it company profit, if the company has an insurance policy that covers it liabilities, it will be very easy to clear such debts without going out to borrowed.[/B] [/QUOTE]
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What are the advantages of insuring our liability?
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