Insurance Companies

I am doing a fair and setting up my massage chair.We are not allowed to charge,so I am offering complimentry 5 minute massages.The intent is to promote my business.I have overlooked one thing,and that is liability insurance.I will only be there for a little over 2 hours.I called my insurance company,and they can give me the insurance,but not for the event,which is in 4 days.Should I be worried that someone will want to sue me?Has anyone experienced this,and what were your results.Thanks.

Well, sure they can sue you! No one has a crystal ball. If your table collapses, expect a lawsuit.

The whole POINT of insurance, is if you want coverage, you have to buy it BEFORE something goes wrong. Afterwards, well, you’re on your own!!

I have additional insurance beyond what the condo association covers. I have liability insurance and have filed a claim but they are saying it will most likely be denied because I was not negligent becuase as far as I knew the water heater was in good shape. My insurance company says that the owner below me needs to file their own claim with their insurance but she is refusing to do so saying that the damage was not caused by her. Is this how it is supposed to work?

Odds are that the actual liable party here is going to be either the manufacturer of the water heater (depending on how old it is) or the condo association who may be responsible for maintaining it.

The lady below needs to report this to her insurance because I doubt any other party is going to step up and offer to pay without a long investigation. While she waits the water damage is only going to get worse.

Her company has a contract (policy) with her and under the terms of that contract they will pay her regardless of who caused the damage. Then her company will go after who ever they think is liable to seek reimbursement for the money paid and her deductible.

You are not liable just because the water heater was in your condo.

I am opening a Roadside Assistance company and I need $1.000.000 liability insurance. What insurance companies should I use and how much would the payments be?

You can’t get business insurance directly, you need to use an agent. Since you’re working on cars, you’ll need a "garage liability" policy, even if you don’t own a garage. If you have a towtruck, it can get pretty pricey – five figures.

Bottom line – to get an accurate quote, you’ll need to contact a local independent agent. The first few years, your policy will PROBABLY be through your state auto fund, assigned risk plan, whatever the program is called in your state. I’d be surprised if you get any voluntary carriers to write a garage liabiltiy policy on a new venture.

Do any of you have experience with Equine Liability Insurance companies? I think I need to get some insurance but don’t know how to pick a company. I was hoping some of you had some experience with a company and could recommend ones to use or avoid. Also, any general comments about liability insurance would be appreciated as well. I have two quarter horses and board them on my property.
Thanks for the responses so far. I live in California and the law does not exclude liability for horses like in almost every other state.

The problem is that nowadays there are only 4 underwriters who will do this type of insurance. There are a million agents who can get you a quote, but they all go to the same 4 or 5 companies who actually underwrite it. (I had the same thing happen with my professional liability, didn’t know that until I tried to get it.)

Your best bet is to contact 4 or 6 insurance agents and have them get you some quotes, the difference in the price will be a reflection of their percentage (or greed, depending on how you look at it.) Almost all the coverages offered will be identical.

Also, before you shell out any money, there are so many exceptions that put the blame for any incident squarely on you anyway, I’d really read that policy before shelling out any hard earned cash. If there’s any way they can weasel out of actually paying a claim, they’re going to do it.

I might make a fitness DVD and will use a disclaimer. Does my limited liability company still need to carry liability insurance in case someone sues?

Only if you get sued.

Of course, by then it’s too late to buy it.

What is the dollar amount most companies require for liability insurance from vendors?

Mostly it’s $1,000,000 for auto, general liability, product liability, and professional liability, with 500/500/500 for comp. Some will also require a $5,000,000 umbrella.

I don’t own my own car, so when I rent I usually opt for the supplemental liability cover. That’s expensive, though, at about $8-10 a day. Isn’t it possible to simply buy a year-long liability policy from an insurance company that will cover me when I’m renting a car?

You can purchase a nonowners liability policy that will transfer to the rental but it will be expensive (about as much is if you owned an older car that needed liability only). This will transfer, but you will still need to purchase the comprehensive & collision coverage from the rental car company because a nonowner policy is liability only.

I own a rental property in Houston. Since I live overseas and do not have home owners or renters insurance, the insurance company of my investment property will not write a $1000,000 umbrella policy. My investment property’s dwelling policy has $300,000 liabililty coverage in it.

Is there any way I buy $1000,000 umbrella policy? Any names of insurance companies?

Thank you
Thank you everyone who took time to answer my question. Here is few clarifications:

I personally own the house and not through a corporate entity?

I have a dwelling policy TDP-1 on my rental. It is written by CYPRESS TEXAS LLOYDS.

I called the agency who sold me this policy. They said they can bump the current $300,000 liability to $500,000 for additional $500 per year.

This would certainly help but I want $1 million coverage.

You say you have a dwelling policy on your rental so I’m guessing it’s residential (1-4 units) and it’s properly insured as a rental. Who owns the property, you personally or through a corporate entity? If it’s personal you can try a company called RLI (public company, look up their web site and find an agent). They allowed umbrellas without supporting business. If it’s owned by a corporate entity, you’ll need a commercial policy with commercial umbrella.

You may want to inquire if the dwelling policy can be bumped to $500K on liability limits. My blog has an article on dwelling coverage for rental properties you may find interesting.

Will her insurance company give me a hardtime to fix my car because i only have liability on my policy?
She crashed into my parked car as she was getting out of her drive way in reverse..Basically its her fault but since i dont have full coverage auto insurance will i encounter any problems?

Well, likely not. They should just go ahead and pay your body shop.

The cheapest will do for now.
Cheers

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