123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Types Of Small Business Liability Insurance And Why You Need It

Profile Picture
By Author: Stam Bett
Total Articles: 452
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Unfortunately, too many businesses, particularly small business, ignore business liability insurance in its many forms. This is a step you can't afford to skip! While you probably protect your business from risks by insuring your physical assets, you aren't considering many types of liabilities you're facing if you don't get small business liability insurance. Your business may be just one lawsuit away from bankruptcy!

Types of Small Business Liability Insurance
Business liability insurance is very important because it secures your business against many forms of liability, such as product liability, professional liability and public liability. The type of insurance you choose will depend a great deal on your business. A doctor or accountant, for example, should have professional liability insurance while businesses that sell or manufacture products may need product liability insurance.

Business General Liability Insurance
Business general liability insurance is designed to protect you against claims of liability from a physical injury or property damage due to negligence. General business liability ...
... insurance will compensate you for medical expenses of bodily injury caused to an employee, customer or the general public and also offer protection against damage claims to the property of a third party.

Professional Liability Insurance
This form of specialty insurance is important for professionals who provide a service, from lawyers and doctors to plumbers, accountants and consultants. This important form of insurance offers protection from liability as the result of breach of confidence, malpractice, loss of data, inadvertent mistakes and much more.

Product Liability Insurance
Product liability insurance protects you if someone is hurt by a defective product sold or manufactured by your business. Your insurance policy will cover legal expenses and compensation claims.

Why is Small Business Liability Insurance So Important?
Thousands of businesses fail every year as a result of lawsuits. The cost to defend yourself can quickly top $100,000, even if you ultimately win. Unless you have a great deal of cash to throw at lawsuits that come up if someone slips and falls or accuses you of giving bad advice, general business liability insurance and the other forms are absolutely essential.

Liability insurance will protect you against claims from malicious ads, damages and injuries, including injuries sustained by employees, customers or the general public. If your business causes damage to any property, you will probably face liability for this damage, which is also covered by insurance. Your business insurance will also cover the medical expenses and litigation expenses for lawsuits resulting from injuries, and you will get an attorney to represent you in court.

If you don't currently have liability insurance, now is the time. Consult with an insurance company to get an adequate amount of insurance to keep your business safe.

For more information on Business General Liability Insurance and Business Property Insurance. Visit Today - Andersonjacoby.com

Total Views: 408Word Count: 464See All articles From Author

Add Comment

Business Articles

1. Repair And Maintenance Guide For Garden Fencing
Author: Vikram kumar

2. Lucintel Forecasts The Global Palatant Market To Grow With A Cagr Of 5% From 2024 To 2030
Author: Lucintel LLC

3. Choosing The Right Gas Regulator In Florida: A Complete Guide
Author: Technico

4. Why Deer Park Learners Trust Local Driving Instructors
Author: Aintree Driving School

5. How To Properly Install And Uninstall Your Air Conditioner System With A Low Budget
Author: Neha Jain

6. What Is The Role Of Pdca In Iso 50001?
Author: William Charles

7. Step-by-step Instructions On How To Generate Inventory Reports Quickbooks?
Author: Jack Edwards

8. How To Track Employee Work Hours Efficiently With Trackhr
Author: TrackHr App

9. From Grounded To Global: 4 Ceos Rewiring India’s Aviation Sky
Author: Skyone

10. The Role Of Automation In Modern Cloud Migration Methodology
Author: Netscribes

11. Master Photo Retouching | Steps To Become A Photo Editing Expert
Author: ukclippingpath

12. Great Dependability And Performance Are The Reasons For Extensive Use Of Hydro Pneumatic Press
Author: David Camp

13. Best Lasik Eye Surgery For A Spectacle-free Life
Author: Anil Eye Hospital

14. Industrial Oven Manufacturers In Coimbatore
Author: Heatcon Sensors

15. Plumbing In North Salt Lake: Your Guide To Reliable Services
Author: Brown Jones

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: