Few things are guaranteed in life. Some would say this is the primary purpose behind insurance policies. They provide protection from those events in life for which there is no guarantee of escaping unscathed. Nashville business owners know this, so they purchase policies that pertain to their industry. If a company could experience events that cause contamination to the air, water, soil, animals or people, then environmental insurance might help mitigate any losses associated with it.

No matter how carefully a piece of property is assessed for environmental contaminants, there is no guarantee that an issue will not arise at some point in the future. Even remediation and cleanup may not be done in a way that rids the property of 100% of the contaminants. Having an insurance policy to help cover the costs of cleanup, business interruption and more could make the difference between keeping a business on a successful track and closure.

General liability insurance ordinarily excludes environmental pollutants and contaminants, which is why environmental insurance may be an important part of a business’s arsenal. When purchasing such a policy, it is vital to make sure that it covers losses due to pollutants. Otherwise, the policy does not have much value beyond the paper it is written on.

A great deal of the problem is the fact that insurance agents and brokers are not always aware of their policy exclusions or the need for an additional policy to cover environmental issues. Instead of relying on an insurance agent to make sure that a Nashville company has a true environmental insurance policy, it would be wise to consult with an attorney experienced in helping businesses with their formation and their environmental responsibilities. Taking the appropriate precautions ahead of time can help avoid significant financial losses in the future.