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Liability Insurance
What are the advantages of insuring our liability?
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[QUOTE="Holicent, post: 255068, member: 76163"] The advantages of insurance are numerous and varied. The advantages of insuring our liability are numerous. First, it keeps us from being held liable for something we don't intend to do. Second, it helps protect the company from legal costs incurred by the injured parties. Third, it allows us to make a claim against the insurance company if our liability is found to be less than the amount we paid out. Not only does the insured benefit from coverage, but the insurer benefits from finding that risk and insuring it. Insurance provides protection against financial loss, which can result from a number of different events. There are many reasons why people purchase auto insurance policies and some of them are as follows: To cover the cost of repairs to your vehicle should an accident occur. To pay for medical expenses if you are injured in an accident. To reimburse you for any expenses you may have incurred due to an accident or other loss. To pay your compensation award if you are found at fault in an accident. To provide additional protection if another driver is found at fault in an accident with your vehicle. [/QUOTE]
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What are the advantages of insuring our liability?
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