list of the most popular insurers in the United States providing liability insurance together with
information about the offered types of coverage and conditions affecting the premiums. It should however be understood that the coverage and prices illustrated here may differ depending with the specific situation of the owner, type of business and geographical location.
List of the Insurance Companies that Deal with Liability Insurance
State Farm
Coverage Options: Umbrella, products, completed operations, general liability, professional liability,
motor vehicle liability.
Typical Premiums: In general varies from $300 to $1,000 per year for industries with less than $3
million in sales, based on risks and amounts insured.
Company Website:https://www.statefarm.com/
Allstate
Coverage Options: B2C insurance, commercial property, and general liability, professional liability,
and commercial auto liability.
Typical Premiums: The cost may vary depending on the plan, where the cheapest annual premium
begins at $400, for basic insurance.
Company Website: https://www.allstate.com/
Geico
Coverage Options: The Company mainly focuses on auto insurance but also sells general liability
insurance and commercial auto liability to companies.
Typical Premiums: Commercial liability varies from about $500, based on such factors such as
business type and claims.
Company Website: https://www.geico.com/
Progressive
Coverage Options: Most of the general insurance products include; general liability, auto insurance
and specific insurance for professions.
Typical Premiums: Quite often rivaling, ranging from $300 per annum for the base package which will
include liability.
Company Website: https://www.progressive.com/
Chubb
Coverage Options: A full range of general, professional and special liability insurance solutions.
Typical Premiums: Luxury segment; rates may begin from $1000 or even more depending on the exact
type of insurance provided.
Company Website: https://www.chubb.com/us-en/contact-us.html
Liberty Mutual
Coverage Options: General liability, professional liability and employer’s liability especially worker’s
compensation.
Typical Premiums: In general, cost of using these sites range from $500 to $2,000 depending on
business size and industry.
Company Website: https://www.libertymutual.com/
Nationwide
Coverage Options: Commercial and specie, malpractice and error, and completed operations.
Typical Premiums: They range from as low as $400 per annum depending on the business and risk
factors involved.
Company Website: https://www.nationwide.com/
Coverage Types
General Liability Insurance:
Covers liability for physical harm to a third party, damage to a third
party’s property and non-physical harm to a third party, such as slander or libel.
Professional Liability Insurance (Errors and Omissions):
Protects specialists from lawsuits for
malpractice or error made in their practice.
Product Liability Insurance:
Provides for all those companies that manufacture or sell products and
can get involved in product liability cases.
Commercial Auto Liability:
Insurance of vehicles for business, it keeps on covering cars for
accidents and other incidents.
Other types of liability insurance In U.S
Cyber Liability Insurance
Coverage: Covers businesses against risks associated with data loss and theft, cyber security incidents
and legal proceeding that follow.
Who Needs It: Especially relevant for companies that process personal data of their customers or depend
on IT infrastructure.
The Directors and Officers Liability Insurance (D&O)
Coverage: Covers the personal stake of directors and officers of a company against legal suits touching
on their decisions and actions while in that capacity.
Who Needs It: Totally indispensible for corporations and nonprofits.
Workmen Compensation Insurance
Coverage: Covers employers against liability to pay damages for employee’s sickness or injury not
compensated by workers’ compensation law.
Who Needs It: Mandatory in a number of states as an addition to workers compensation insurance
Environmental Liability Insurance
Coverage: Minimizes the risks arising from claims concerning pollution of the environment or disposal
of hazardous waste.
Who Needs It: Quite frequently required by businesses that are engaged in manufacturing, construction,
or the disposal of wastes.
Liquor Liability Insurance
Coverage: Excludes businesses that sell or serve alcohol from liability in cases occurring when business
patrons become out of control and cause harm/injury to others.
Who Needs It: Needed for establishments which serve alcoholic beverage and foods such as bar,
restaurants and events where alcoholic beverages will be served or sold.
Umbrella Insurance
Coverage: Offers limits of exposure in excess of normal liability policies to cover excess and/or excluded
situations to shield against large exposures.
Who Needs It: Advantageous for people and companies interested in additional guarantees.
Factors Influencing Premiums
Business Size and Type: New organizations or those that are operating in specific hazardous sectors
also pay relatively high premiums.
Coverage Limits: That is why; raising higher coverage limits results in the higher premiums to be paid.
Claims History: This feature increases the risk of a loss due to an aggregate of expensive claims in the
past.
Location: Some locations are more exposed to some risks making the rates of premium differ.
Deductibles: It is an inverse relationship; the higher the cost of the deductible the lower the cost of the
premium.
Getting Quotes
To find the best rates, it’s advisable to:
Check different insurance policies from different insurance companies.
Determine your individual requirements depending on the kind of business and dangers in the market.
There is nothing wrong with hiring an insurance broker for individual consultation on the same issue.
Conclusion
However, to get the best premium quotes and the right insurance products it is advisable to contact the
particular insurance companies or insurance agents. It can give you solutions depending on your
situations and challenges that your business faces.
https://bestusacoverage.com/digital-assets-list-of-top-best-cyber-insurance-companies-in-usa/
Digital Assets -list of top 10 best cyber insurance companies in USA
