Increasing Your Liability Insurance in Massachusetts

There are many areas in life where an insurance policy may help provide vital protection if a lawsuit is filed against you. Known as liability insurance in Massachusetts, residents and business owners may not fully grasp the value of investing in standard commercial and individual liability insurance. Here’s a list of some of the lesser known liability coverage options available:

• Professional liability insurance. This insurance is sometimes called errors and omission insurance and is purchased by individuals who provide a service to the public such as a doctor.
• Manufacturer liability insurance. In the event a manufactured item doesn’t function correctly or harms someone, the manufacturer may be sued for damages. This type of insurance is often used to defend class action lawsuits.
• Employer liability insurance. This insurance helps protect a business if an unsafe work environment lawsuit is filed against them. This category also includes workers’ compensation insurance which is compulsory in most states.

Almost all forms of insurance have a limit. This means the policy may cover your expenses up to a specific amount and then you must pay the remaining cost. Insurance companies may negotiate the limit with you - typically the higher the limit, the higher the cost of the premiums.

In the event of court action, part or all of your defense costs and any court determined settlements may be paid by your liability insurance in Massachusetts.  Insurance agents have all the information you need to make an informed decision on increasing your level of liability insurance.

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