One of the best ways to protect your business is by having the right insurance cover, especially if your main concern is for type of protection for your newly purchased soil testing drill insurance policy. It’s a basic necessity for a business owner to have somebody to depend on when an unpredictable event occurs. General public liability is among the well sought after types of protection cover included in most insurance products.
Do you want to know why there is a great need to be covered with general public liability?
General public liability is highly recommended for business owners, whether you are providing services, selling products or involved in big projects because it can offer protection for any future claim resulting from accidents or property damage involving third parties.
What are the benefits you can receive when you have soil testing drill insurance general public liability coverage?
If you decide to include general public liability protection coverage for your soil testing drill insurance, here are some of the benefits you will receive as a policyholder:
Financial assistance for claims that incur legal fees, medical bills, as well as the costs of environmental damage to the site where your soil testing drill is used.
Protection of the business itself, depending on the extent of assistance you opt to include you can be compensated for non-operation or loss of earnings due to a required temporary stop of work.
Are there disadvantages in not including general liability protection coverage?
If you decide not to include general liability protection coverage in your soil testing drill insurance policy, you are exposed to a certain disadvantages which may include the following:
You will have to pay out for whatever claims are filed as a result of injury, damages or hazards to environment, straight from your wallet.
You are left on your own to handle a costly legal case without receiving financial assistance from your insurer.
Your business’ name is at increased risk of gaining a bad reputation in the event you can’t operate due to impending cases filed against you.
How to eliminate the possibility of handling on your own third party claim
First of all, you need to work with a licensed insurance broker who specialises in soil testing drill insurance and discuss your concerns, including the risks faced while using this type of equipment.
Once you have a private meeting with a knowledgeable insurance broker, let him or her get you free quotes for insurance products.
Compare the free quotes and check if general liability coverage is already included in the estimated cost of a soil testing drill insurance policy.
If general public liability isn’t included yet, request that your broker negotiates a price for this additional protection.
Carefully read the proposed soil testing drill insurance policy including general public liability for your protection coverage and give your approval if everything is stated correctly.
Earthmoving Insurance HQ are brokers that specialize in the heavy machinery sector and can help you get the best Soil Testing Drill Insurance tailored to your needs. Call today on 1300 815 344 for obligation free quotes or request a quote online.