Business owners buy general liability insurance as protection against lawsuits. Lawsuits may be brought about because of theft, bodily harm, harassment, property damage, and of course natural disasters. While most people purchase insurance with the belief they will never use it, Hurricane Sandy and other natural disasters are teaching us otherwise.
If you own a building, are a property manager or a landlord and your building suffered damage that caused people to be without a home or caused the destruction of a place of business, you might be sued. The unfortunate reality of human nature is that when people are afraid, broke, homeless or have seen their business disappear in front of their eyes, there is a tendency in some people to want to lay blame, or more importantly to recoup their losses.
For the apartment renter who didn’t have home insurance and lost all furniture, family treasures and more, where do they go? For the business owner who lost computers, data, infrastructure for a business, where do they go?
In worst case scenarios, they are suing property owners and landlords claiming buildings were not property maintained or secured before the storm, as well as claiming that remediation efforts either did not happen, or did not happen in a timely fashion after the disaster. Whether or not the claims are real, they spell out a loss of time and money for the property owner or landlord.
General liability insurance covers the cost of these lawsuits so you can get back to your life and your business. As more natural disasters hit, such as the flooding in Boulder, CO and fires in California and Idaho, there will, unfortunately, likely be more lawsuits filed.
Because natural disaster insurance is sometimes a separate addition to your basic coverage, especially in areas where natural disasters are common, it’s important to have your insurance policy reviewed and updated before a natural disaster hits.
At Richard Turner San Diego Insurance Agency, we have you covered. We’ll not only review your current policy, but we would be happy to set you up with a new policy or a revised policy to insure you are covered no matter what disaster hits. Our job is to protect you so you can do your job with confidence.
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