Public Liability Insurance

Most businesses need public liability insurance to protect them from financial devastation in the event of damages or injury that occur on their property. In some cases, private individuals could benefit from this type of coverage as well. Business owners need protection if some kind of injury should happen to a customer or client. Any time a store is opened or a place of business is established, certain risks are established as well. Regardless of the most careful precautions, accidents do occur. If a customer walks into a store and trips, sustaining bodily injury, that customer could sue the store owner for damages such as the recovery of expenses incurred for medical care or the cost of pain and suffering. Of course, a responsible business owner will naturally feel an obligation to help anyone who has sustained an injury on their property. But insurance coverage that will help meet the expenses of such an accident is necessary for anyone who wishes to survive in the marketplace. Even if a lawsuit is unsuccessful, there will be expensive legal fees. Public liability insurance can cover the cost of those fees. There is no way to completely eliminate risk, but businesses and individuals can certainly benefit from making sure that they are covered in the event of such worse case scenarios. Maintaining this coverage is a simple and sensible solution when faced with these risks.

The reasons for purchasing public liability insurance can vary as can the terms of the individual policy. Not only will this coverage come in handy if a customer or client is injured while visiting a place of business, but can also be of benefit to professionals who must travel to a customer's residence. For example, an electrician may go to the home of a client to install a light fixture. If in the course of installing the fixture, damage is done to the surrounding ceiling area and the electrician is at fault, a liability policy will cover the cost of the damage. When a private individual decides to teach piano lessons from their own home, there may be liabilities to consider as well. Unfortunately, if a student is injured on the instructor's property, this could open the instructor up to a costly lawsuit. There are also cases in which the law requires that a business carry public liability insurance, particularly if some type of sporting activity will be taking place and the risk of injury is considered to be greater. It is not uncommon for potential clients to request that a business owner provide proof that the business carries the appropriate coverage. The costs that are generally associated with this coverage can vary depending on a number of factors. These factors could include the level of risk involved and the claims history of the organization. Consulting with a professional agent can help an organization or individual best determine the type of coverage that will meet their specific needs.

Claims are frequently filed against cities for accidents that occur on city property and for a number of other reasons. Cities in particular can face many unique situations that require the acquisition of public liability insurance. Flooding that is the result of a broken water main can do a great deal of damage to the private residences of citizens. When such an event occurs, the city would be expected to pay for the cost of repairing this damage. Harm from sewer main back ups can have similar consequences and will require coverage. Injuries to visitors or citizens in a public park or other city property will often be regarded as liabilities that the city must assume. Adequate coverage will handle such issues without bankrupting an entire community. Generally, an offended or injured citizen will first file a claim. Then the city will investigate the claim and make financial amends if the investigation indicates that this would be appropriate. Universities will often carry public liability insurance as well. This coverage will usually protect faculty and staff who are named in lawsuits by students or members of the community. Any organization that deals with the public might find themselves in danger of facing damages from an offended citizen. This is, unfortunately, a reality of functioning in today's society. Taking steps to make sure that an organization is protected in the event of such lawsuits is wise.

Of course, not all small businesses will need public liability insurance. Business owners who do not deal with customers or clients on a face to face basis, but simply supply a need from the privacy of their own homes will generally not require this kind of coverage. Unfortunately, other types of small home businesses can be susceptible to lawsuits, but there is no need to live in fear of this. It is possible to find inexpensive coverage that will provide protection in these cases. The Bible talks about the way that God does not forget the expectations of those in need. For the needy shall not always be forgotten: the expectation of the poor shall not perish for ever. (Psalm 9:18)

In addition to standard public liability insurance, there are other types of plans that offer similar benefits. Professionals who dispense advice need a particular type of coverage. These policies are called professional indemnity insurance and will protect the policyholder from claims of damage due to poor advice or negligence. Liabilities that are incurred as a result of a faulty product can result in lawsuits as well. Protection that will cover the costs of any kind of damage can make a huge difference in the future of a company.

Renters Flood Insurance

Renters flood insurance is not high on most apartment occupants' minds in everyday living. Often the comfort of having renters insurance can lull some into a false sense of security when it comes to water damage. As much as we all might hate it, insurance is a profit driven game, and companies do want people buying as many policies as they can afford. The result is that homeowner's insurance can often come to the rescue when it comes to grandma falling off the front porch and her medical bills need attention. But it won't cover water damage in or outside the house for any reason. And that becomes a real issue if Hurricane Matilda decides to stall out over Arkansas or the storm drain across the street backs up and there is black water three inches deep in the apartment building where you live.

The United States through the auspices of the Federal Emergency Management Administration (FEMA) has mandated flood zones throughout the country that are deemed low to high risk for possible water damage in case of deluge. Homeowners are mandated in high risk areas to own this protection in order to have a mortgage for their homes, but renters flood insurance is purely optional. The owner of the apartment building is not responsible for paying for water damage losses unless they are caused by faulty plumbing, but that liability can be limited and no assumptions should be made until talking with an attorney. Since any storm sewer can overfill and spill out into surrounding residences, even in places never thought to be vulnerable can be at risk for flooding, even from just an over exuberant but routine thunderstorm. This should not be surprising since more and more land is being covered by asphalt and leveled forests and over building has sparked run off more than ever, a three inch flood in one's apartment can certainly not be of any surprise.

What should be of surprise however is the cost of replacing many belongings and possession with even a low level flooding as just mentioned. Take a good look around and the electronics, lamps and furnishings that might need replaced if three inches of sewer water came into one's apartment. How much could things cost in replacement value? Consider then what a ten inch flooding condition could do and if one lives in a high risk flood plain on the first floor of a building, imagine all of loss that could be incurred with that kind of deluge. The closer a person's apartment is to the nearest storm drain, the nearest creek or river or lake or proximity to the oceans or the Gulf, the more important renters flood insurance becomes for consideration.

Renters flood insurance is not available for everyone who desires to have it. The National Flood Insurance Program is extended to about 20,000 communities across the country that have a relationship with this program. Through it about one hundred insurers, many of national repute, offer renters flood insurance to individuals living in those communities. These insurers can be found on the Internet by typing in flood insurance and all have nearly the same price for the coverage. When hard times come, like a flood, and threaten to sweep away all that we have worked so hard to have, remember these words from the psalmist. "God is our refuge and strength, a very present help in trouble. Though the waters thereof roar and be troubled, though the mountains shake with the swelling thereof. The Lord of hosts is with us; the God of Jacob is our refuge." (Psalm 46:1, 3, 7)

The cost to have one's belongings covered in an apartment flood is similar to the cost of homeowner's water damage coverage. In a low risk zone that has been determined by FEMA, eight thousand dollars of property value covered in an apartment deluge of water is only thirty nine dollars a year. Twelve thousand dollars of content protection is but fifty three dollars. In a high risk area, ten thousand dollars of renters flood insurance content coverage will cost one hundred and forty five dollars a year. In the highest risk of the three types of zones, coastal high risk, ten thousand dollars of coverage will cost one hundred and seventy six dollars a year.

The question on some renter's minds might be similar to,"Do I need renters flood insurance?" Frankly, that is the same question most people have about all non-required insurance. Boat coverage, dog liability indemnity, life insurance and those extended warranties for appliances and electronics always being shoved in our faces make us wonder how much coverage we really need if any. In many cases, there is that day of sadness when we know we could have and should have but didn't. One of the truths about any insurance is that room can almost always be found in a budget for that which one really believes is important.

It's just too late to get renters flood insurance when the TV weatherperson announces that Matilda has stalled over your state and historic flooding is to be expected. There is a thirty day waiting period after it has been purchased for the policy to go into effect. Take the time to find out if your apartment is in a high risk zone. FEMA's website has direct access to maps of the city or township in which you abide and from that information a person can find out exactly what the scoop is on your location. You may not have Matilda ever come visit, but about that pesky storm drain?





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