Travel Agency Insurance by Jordan Rocksmith

Travel Agency Insurance is important coverage that every travel agency should acquire. This professional liability insurance will protect you against negligence claims that a client might file against you for failing to adequately complete an agreed upon procedure. Also, make sure that you have a detailed understanding of your specific insurance policy so that you can make educated decisions regarding your coverage.

Professional Liability Insurance

No one is perfect and neither is any company. Sometimes companies make mistakes that may cause their client significant financial loss, great inconvenience, or even physical harm. Professional liability insurance will protect you from potential liabilities that you could face as a result of running your business. In today's world it's important to have continual insurance coverage because a small misunderstanding can quickly turn into a legal battle. This is particularly true if you're a business owner in the service industry. If your clients are in any way unsatisfied with the service you provide, or fail to provide, or if they feel that you have breached a contract, they can take legal action against you. Professional liability insurance covers the costs of a judgment you would have to pay if you are found liable in court. Also, a legal battle itself can get very costly, even if you win the lawsuit in the end; professional liability insurance may be able to help cover your defense costs.
Understanding Your Policy

Recognizing the importance of your professional liability insurance coverage will help you protect your business by motivating you to keep continuous coverage in force. But just as important, you need to have a good understanding of how your policy works so that you know what protection you are receiving and are familiar with your rights as a policyholder. It would be a good idea to sit down with your insurance agent and go over the specific coverage in your policy. Specifically, ask what your deductibles are and what your overall coverage limit is. Make sure that your policy limits are adequately high to protect you in all potential liability cases. If you can think of any potentially risky situations that you can imagine happening in your business interactions with your clients, directly question if there would be coverage for those specific scenarios. Specifically as a travel agency, ask about worldwide coverage, exclusions, and any other travel-related questions you can think of. If you understand your Travel Agency Insurance policy, you will be in a much better position to make informed and educated decisions regarding this important coverage.