Signing up for business insurance can be a challenge for new financial advisors. With all the options on the market, it’s easy to get bogged down in the process. Rather than struggle through it alone, it’s best that you work with an agent who’s experienced with Alpine commercial insurance to build a policy that’s just right for you. As you conduct your search, here’s a brief description of the two liability coverages that you should understand and expect to include in your policy.
General liability protects you against lawsuits from third-parties claiming that they sustained an injury or property damage on your premises or because of your product or services. A customer’s car getting damaged because of a pothole in your parking lot is an example of where this coverage would come into play.
Professional liability protects you against lawsuits from third-parties claiming that they experienced a loss because of an error or omission on your part. An example of this is a client suing you because they lost a significant amount of money after following your advice on stocks.
With these and other forms of liability coverage, your policy will cover expenses related to a lawsuit including you attorneys’ fees as well as any damages for which you’re required to repay. Since these risks can have such a major impact on your business, it’s good to work with a trusted Alpine commercial insurance professional to make sure you’re properly covered.