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Friday, January 1, 2010

Liability Insurance Quotes Can Help You Find Cost-Effective Insurance Premiums

By Ben Ashfalk

Liability insurance quotes cover three types of insurance policies. These are Public, Employers and Professional liability insurance policies. Liability insurance quotes make it way easier for you to hunt for insurance premiums at the best price.

The purpose of public liability insurance is to protect a business owner, homeowner, or property owner in the event of an accident on their premises, resulting in damage or injury to a third party. The business owner usually submits information such as the estimated annual revenue of their business, the type of property that houses the business, the business type, as well as indicating if there were prior liability claims or incidents against the business. Homeowners submit information relating to the estimated value of the house, the type of property (duplex, single family home, condominium, etc.), as well as if prior liability claims or incidents.

Product liability insurance is another type of public liability insurance. This type of insurance covers the possible damages or injuries sustained by third parties using a business's products. For a product liability insurance quote, a business will need to submit the type of product, what the product does, how the product is used, whether or not there are prior claims or incidents in the past, etc.

Employer liability insurance provides protection for both employer and employee. It is effective in case an employee has health problems or suffers an injury in the workplace. A third case which is covered is an employee's death. Many countries make it mandatory upon the business owners to acquire this insurance policy. Employer liability insurance quotes will require the employer to provide data about: total employees, business type and any predictable implications of the type of work such as ailments like lung cancer, deafness or dermatitis.

Professional liability insurance protects an individual from various types of claim from a third party. The quotes for this particular type of insurance are split into two distinct groups: professional indemnity insurance quotes and public liability insurance quotes, which is indicated above.

Professional indemnity insurance covers an individual in a situation where one gave advice to another individual or group of individuals, and the advice proved to be faulty, causing the other individual damage or injury. Information required for quotes for professional indemnity insurance includes profession details, total gross annual earnings, prior claims or discrepancies which may lead to a possible claim. Moreover, the indemnity limits of the insurance need to be provided too.

Liability insurance quotes help you find cost-effective insurers. The protection you get in the event of claims is really worth it. Claims can be dreadful, often large enough to take down entire businesses.

Liability insurance quotes are also available online. This is the easiest method of finding out prices of insurance premiums. The amount and extent of coverage you will get will depend upon how well thought the liability insurance quote is. In choosing the insurance provider, one must go for a provider of reliable repute and background. - 23211

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