Many business owners erroneously believe their business liability insurance contains all "standard provisions" and that because most states have a department of insurance are approved by that agency. NOT TRUE. There are no such things as standard insurance policy provisions or state agency approval.
An insurance policy is a contract between you and the insurance company. There are wide variations between the standard clauses and the exclusions in many policies would amaze you (if you bother to read it). Before you buy insurance, ask for a copy of the policy and read it. If it does not specifically cover potential problems, you should immediately ask the agent to add language covering such events (usually called a rider).
Also, keep in mind, that in most states insurance agents are actually the agent of the insurance company that they represent and are selling its insurance. They are not agents of their customers and often (such as California) have little legal liability to their customers (since they are agents of the insurance company).
It is up to you to protect yourself and do not just assume the"agent" is protecting your interests.
An insurance policy is a contract between you and the insurance company. There are wide variations between the standard clauses and the exclusions in many policies would amaze you (if you bother to read it). Before you buy insurance, ask for a copy of the policy and read it. If it does not specifically cover potential problems, you should immediately ask the agent to add language covering such events (usually called a rider).
Also, keep in mind, that in most states insurance agents are actually the agent of the insurance company that they represent and are selling its insurance. They are not agents of their customers and often (such as California) have little legal liability to their customers (since they are agents of the insurance company).
It is up to you to protect yourself and do not just assume the"agent" is protecting your interests.
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