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General Liability Insurance: Do You Know Which Market Your Business Falls Into? - 06/01/09 11:09 AM
Most business owners are aware of the importance of general liability insurance. General liability coverage can protect a business from liability issues, claims, lawsuits, etc. What you may not know, however, is that a business’ rate and amount of coverage greatly depends on what “market” they fall into. Don’t know what a market is? Then you may want to speak to your insurance agent as soon as possible! There are two basic markets of businesses when it comes to general liability insurance. A business will either fall into what is called the “Standard Market” or what is called the “Excess Surplus Market.”
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