Business catastrophe liability insurance provides coverage above and beyond the existing San Diego liability and property insurance your company presently employs. There are a number of different coverage options included in this type of insurance, and exclusions may apply. The staff at American Tri-Star Insurance is here to discuss some of the details that make business catastrophe liability insurance so crucial for any company.
Pay for Legal Fees
Legal fees from a lawsuit are a potential financial strain on any business. Business catastrophe liability coverage helps offset some of those fees while ensuring your business can still operate as normal. Many of these policies provide coverage while the case is being investigated and litigated, providing defense costs without placing a strain on day-to-day operations.
Insure New Acquisitions
Business operations often expand, and ensuring coverage for those newly acquired organizations is important. Business catastrophe liability provides protection for a specified length of time, allowing the existing San Diego commercial insurance policy your company carries to be updated with new coverage options. This allows your business to continue operations as normal while working out the insurance policy details.
Protect Overseas Operations
Many business catastrophe liability policies provide protection for business operations that occur anywhere in the world. Even if your business only has a base of operations located in one country, there are still many potential operations that can spread into other countries as well.
Cover Rare and Unusual Events
There are some incidents that general liability and business property insurance may not cover. Sometimes rare or unusual events occur that a business catastrophe liability policy can cover, which is especially beneficial when the primary liability insurance policy does not provide the coverage your company needs. These events could be as wide-ranging as liability due to a defective product or events arising from a company-sponsored holiday party. The additional layer of protection business catastrophe liability provides can prepare any company for continued operations, even in the face of adverse situations.
To learn more about business catastrophe liability and other types of commercial insurance add-ons, get in touch with American Tri-Star. In addition to commercial insurance, we also offer affordable homeowners, health, motorcycle, and car insurance San Diego residents can rely on. Give us a call today at 619-272-2100 and one of our knowledgeable agents would be happy to assist you and provide a free quote.