Could These Uncommon Insurance Coverages Benefit You?

Insurance Coverages Palm Desert, CAAre you taking advantage of these coverages? 

Insurance policies are meant to provide coverage for common perils that you may run into. However, your coverage can help to protect you from many other, less common incidents that you may encounter, too. Take a look at these little-known insurance coverages to see just how protected you are.

  • Kidnapping ransom – while you may never think that you will be kidnapped, it can happen! Luckily, there are insurance policies out there that will pay for your ransom so that you can get home safely.
  • Cyber extortion – all the customer and employee information that you hold at your business is a big target for hackers. While some hackers simply steal this information, others will hold it hostage, and only release it back to you once you pay a ransom. A cyber liability insurance policy will cover those costs so that your company doesn’t go bankrupt trying to cover this expense.
  • Product recalls – if you produce any products, there is always a chance of a defect, which can lead to a recall. Unfortunately, recalls can cost thousands of dollars. A product liability insurance policy will help to cover some or all of the costs of the recall.
  • Destruction of the environment – you can be held liable for accidental or knowing discharge or release of certain chemicals, which can include smoke, soot, vapors, alkalis, waste materials, toxic chemicals, and many others. Adding a “sudden and accidental” endorsement to your general liability insurance policy can help to provide coverage if a contaminant that you normally handle is the cause of an environmental destruction.

For all of your insurance coverage needs to ensure that you are able to enjoy all the benefits of a well-rounded insurance portfolio, contact the experts at Desert Empire Insurance in Palm Desert, California.