In Massachusetts, there are 669,224 small businesses in operation. If you own one, you'll need proper protection for all life throws at you. Premises liability insurance can help cover your risk.
An independent insurance agent will have access to multiple carriers so that you get options. They will review your coverage for free, saving you time. Connect with a local expert to get started fast.
What Is Premises Liability?
Your business insurance is essential to be well protected from a loss. Several policies can be purchased for your business, making it hard to know what applies. Premises liability insurance can help.
- Premises liability insurance: Pays for losses arising out of bodily injury and property damage that occur on your premises. This can be due to hazards or negligence on your part.
What Does Premises Liability Insurance Cover In Massachusetts?
Your Massachusetts premises liability insurance will look different from your other policies, such as commercial auto or umbrella. Every carrier will have its own unique spin on coverage options, but some coverages are typical. Check out what your premises liability policy will protect against:
- Bodily injury coverage due to an accident
- Bodily injury coverage due to the owner's negligence
- Bodily injury coverage for a trespasser
- Bodily injury coverage for a customer
- Bodily injury coverage for a guest or friend
What Doesn't Premises Liability Insurance Cover In Massachusetts?
Exclusions will apply to all insurance policies that your business owns. Workers' compensation and professional liability are some excellent examples of policies that cover very specific losses. Some standard exclusions for premises liability insurance in Massachusetts are:
- Employee injuries: This would fall under workers' compensation insurance.
- Intentional damage: If you intentionally damage your own business property, there is no coverage under this policy, or any other policy for that matter.
- Medical malpractice injuries: If you are a physician and injure a party medically, this would not fall under premises liability. Instead, you would need a medical malpractice policy.
Commercial Premises Liability Insurance
You'll be able to include your premises liability coverage with your other Massachusetts commercial coverages. Package or business owners policies will have a limit for premises liability to protect you from all the what-ifs. Take a look at some examples of what can result in potential lawsuits:
- Not covering up a hole on your premises
- Leaving dangerous equipment out in the open
- Not securing your property adequately
- Allowing unrestricted access to the public
- Not displaying cautionary signs and warnings
- Leaving hazardous materials unattended
- No fencing
- No sprinkler system for a fire
- Not mending broken structures or property
Premises Liability Insurance vs. General Liability
General liability insurance in Massachusetts is separate from premises liability coverage. Both cover different parts of a claim, and both are necessary. Check out the contrasts below:
General liability: Pays for bodily injury, property damage, or slander claims arising out of the business's operation. These occurrences may not have been preventable. General liability policies include coverage for premises liability, such as slips and falls.
Premises Liability: Pays for negligence on the property owner's part. These claims are usually preventable and often just overlooked.
General liability is a more comprehensive policy that includes premises liability coverage. If you get a stand-alone premises liability policy, you could be missing out on other vital coverages. Review your protection with a licensed adviser for accuracy.
Premises Liability Insurance Cost in Massachusetts
In Massachusetts, your insurance costs will vary from policy to policy. Whether you have numerous coverages or just one business insurance policy, your prices are unique to your operation. Take a look at what carriers use to determine your premiums:
- Square footage
- Property updates
- Safety precautions taken
- Age of building
- Prior claims
- Experience in owning a property
- Replacement cost of the property
Premises Liability Settlements in Massachusetts
In Massachusetts, $8,060,079,000 in commercial insurance claims were paid in 2019. When a loss occurs, your carrier will try to settle the claim at a lower cost. If both parties agree to settle, lengthy court battles can be avoided. Some of the most common premises liability occurrences are below:
- Slip and falls
- Snow and ice accidents
- Defective premises conditions
- Poor maintenance of the premises
- Injury or assault due to lack of security
- Elevator and escalator accidents
- Swimming pool accidents
- Dog bites
How to Connect with a Massachusetts Independent Agent
Your commercial insurance is essential to protecting some of your largest exposures. The right policy will provide enough coverage so that you can avoid paying out of pocket. Premises liability insurance in Massachusetts will cover a variety of losses.
An independent insurance agent will have access to several carriers so that you get the best coverage for a fair price. They do the shopping at no additional cost. Connect with a local adviser on TrustedChoice in minutes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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