What You Need to Know About Updating Your Professional Liability Coverage Through Your Independent Insurance Agency in Chicago, IL

November 15, 2016

Learn how an independent insurance agency in Chicago can help update your liability policy.

You invest in the right insurance for your business to protect yourself from disaster. It helps to give you the resources that you need so that you’re best able to get your business back on its feet. You invest in a handful of policies to keep you safe, but it’s important that you regularly update these policies. With new employees and ever-changing business practices, it’s a necessary component of maintaining a secure business. Get the help that you need when reviewing your professional liability policy with assistance from a local independent insurance agency in Chicago. Find out what you need to know about updating your professional liability policy with these tips.

Liability Protection.

When it comes to your policy, you’re given the coverage that you need to protect your business if you or your employees are charged with negligence due to a breach of contract, faulty advice, or a professional mistake. It’s invaluable coverage that can help to keep your business secure. However, when looking to update your policy, determine whether or not you need to increase your coverage limits.

Individual vs. Group Coverage.

When hiring new employees, it’s imperative to update your coverage. You need more coverage so that all of your employees have the coverage that they need. Additionally, you need to know whether or not your policy is an individual or group policy so that you can get the right policy to fit your needs.

Independent Contractors.

When using independent contractors, it’s important that they carry their own professional liability coverage. When there’s a mistake made by a contractor, your business is liable too. With the added protection, you’re better able to protect your business.

When it comes to updating your professional liability policy, ensure that you get the assistance that you need with help from a local independent insurance agency in Chicago. Located in Illinois, Thomas Ward Insurance serves all your personal and commercial insurance needs. Contact us for more information.