In NE Arkansas, Does Commercial Business Insurance Cover Payouts for Lawsuits?

In NE Arkansas, the agents of GTW Insurance can help business owners protect their companies from financial loss if a person files a lawsuit due to a defective product, slip and fall accident, or any other type of event in which their life has been dramatically affected. Commercial liability insurance will often pay for a complete investigation, the cost of attorney representation as well as payouts or settlement amounts. Each occurrence is considered an individual event and treated apart from other cases, even though they may have happened at the same time or in the same area.

There are instances in which a commercial liability policy will not pay out after a lawsuit. If the company is proven to be negligent, other sources of payment may have to be considered. Worker’s Compensation claims are covered by Worker’s Compensation insurance that is required by most states. If an event is considered to be an “intentional act,” the insurance company may not cover any cost to the company. There are several types of commercial insurance policies that can be included with a traditional liability policy to protect a company from losses associated with a lawsuit, but they are considered separate and must be added accordingly.

The agents of GTW Insurance serve business owners throughout NE Arkansas. The licensed agents can answer questions, evaluate commercial policies that are already in place, and write new policies that bring the business up to date regarding amounts and types of coverage. Having the right combination of commercial insurance will protect a business no matter what type of event occurs, including lawsuits and other types of legal action.

Renter’s Insurance: A Small Expense That Can Save You A Whole Lot Of Money

You probably know that vehicle insurance is a necessity (and the law) and you also know that homeowners and business owners need insurance coverage, too. But did you know that even renters should have an insurance policy? It’s true. While you are certainly not obligated legally to have renter’s insurance, you really should consider it.  If you are in the NE Arkansas area, you can contact GTW Insurance to learn more about the types of renter’s insurance available.

Why Get Renter’s Insurance?

As a renter, you only have so much protection when it comes to damage to your property. While you don’t have to worry about replacing things like floors, windows or built-in appliances, as a renter, anything you own inside your apartment is your responsibility. If your furnishings or other belongings are damaged in a fire, for example, you alone are responsible for them. The same goes for theft.

In the event of a fire, for example, you’ll have enough stress with having to relocate. On top of that, you’ll need to replace your belongings. This may include your bed, couch, dining set, all dishes and cookware, all clothing and electronics. Think about that. You may not feel like you have much worth value, but ask yourself what it would cost to replace all of it?

Renters insurance covers things like theft and vandalism as well as damage caused by leaking pipes, falling trees, etc. Earthquake and flood are generally not covered by standard policies,  so you’ll have to double-check with your GTW Insurance expert.

Another good reason to get renter’s insurance is liability. If someone gets injured in your home and you are found to be at fault in any way, your landlord may not be responsible. If you are responsible, the costs could be devastating. Renter’s insurance can help cover you and give you peace of mind.

If you would like more information about renter’s insurance in the NE Arkansas area, contact GTW Insurance today.