Your business and your home are your biggest investments, and you can protect them with insurance policies. However, it can be confusing what is covered under your commercial policy. If you are in NE Arkansas, GTW Insurance can help you understand the best way to cover yourself in case of accidents.
Regular liability insurance will cover claims of injury or property damage caused by an employee of your business. It will also cover accidents, such as if someone falls down while on your property.
While commercial liability insurance is not mandatory, it will protect your assets so that injured parties cannot claim them for damages. You could theoretically lose your business if you choose not to protect it. Also, Arkansas has something called “modified comparative fault.” People trying to sue your business will need to prove that they are less than 50% at fault for the damages.
Automobiles Owned and Used by your Insurance
Arkansas also has a specific requirement that anyone using a personal automobile for work purposes must carry minimum automobile insurance. If you are using your personal car or truck for work, you should probably obtain a commercial automobile insurance policy.
Rates and coverage will vary, and you will need to make sure that your insurance policy covers you based on your circumstances. Besides reading the policy, it is important to discuss with your agent exactly what the vehicle will be used for.
The Arkansas Insurance Department regulates all insurance policies sold in the state, to help protect you and your consumers. If you need help figuring out whether you have enough coverage, or want to compare your various options, you can call GTW Insurance, which serves NE Arkansas.