If you run a business that works with harmful chemicals or produces harmful emissions, you need to be aware of the risks you face. Obviously, working with harmful chemicals can be physically dangerous, however, this type of work can also open you up to financial risk.
If you or one of your employees makes a mistake and accidentally pollutes a site, your business would be held liable and you would be responsible for paying off any associated costs. Luckily, pollution liability insurance can help you handle situations like this.
What Is Pollution Liability Insurance?
Pollution liability insurance is a type of insurance coverage that is designed to protect businesses from the financial consequences of pollution. It can cover things like property repair and replacement, as well as medical bills and legal costs. Essentially, if it’s a cost you could face as a result of a pollution claim, pollution liability insurance can cover it.
How Much Does Pollution Liability Insurance Cost?
The cost of pollution liability insurance can vary widely. There are a number of factors that can impact the price you will pay. Some of these factors are:
- Your location
- Your claim history
- The size of your business
Pollution-related risks have to be taken seriously. One small pollution-related mistake could lead to the end of your business. Pollution liability insurance can help.