Liability Insurance is what protects and safeguards businessmen from falling prey to the liability that their company has. This type of insurance is availed to an amount equal to the liability of the company so that when the time comes, the company is safe as well as the policy holder’s personal assets.
Liability Insurance is aimed at mainly covering the individual that runs the business from liabilities that the company is held responsible for and to keep him/her in safe zone in troubled times. Liability insurance covers secure the assets of the company and the individual running the company from being claimed for liabilities. Taru Financial Services insists that our patrons give more importance to liability cover on the individual (businessman) more than the stocks. This type of insurance covers cost for legal proceedings as well as payments, which the insured is held responsible for.
Liability insurance covers payments of damages occurred only when he/she is legally found to be guilty. Liability insurance doesn’t cover contractual liabilities and intentional damages.