Business liability insurance is one of the most important purchases your company will ever make. This important coverage provides protection from a host of threats that can cripple a small business. Here are the three main types of liability coverage:
General Business Liability Insurance protects your business from lawsuits and consumer complaints due to accidents and injuries.
Professional Business Liability Insurance coverage protects your business against errors, omissions, malpractice and negligence. This is for businesses that provide services, such as accounting, tax preparation, medical and dental care.
Product Business Liability Insurance provides coverage if someone is injured after using a company’s product. Companies that manufacture, wholesale, distribute and/or sell products may be held liable for product safety.
Depending on your business, you may need one or more of these important coverages. Want more information? Give us a call. We would be glad to discuss the types of insurance that can protect your company. In the meantime, check out this handy guide from the U.S. Small Business Administration.