Liability Insurance
Liability insurance is always of the utmost importance, especially in a business setting. There are so many things that can go wrong and a lot of people are at risk every day. Whether you’re a small business owner or have wide-scale operations, you need protection.
Regardless of how careful and diligent you are, bodily injury to either employees or customers is always a risk as is property damage. Accidents can happen at any time, and even the best quality products have a fault and cause harm. In addition to these risks, liability insurance also provides coverage for legal expenses related to defending your business against various claims. This includes not only covering settlements or judgments but also the cost of legal defence, which can be significant.
The best thing you can do is plan ahead and have solid general liability insurance in place to protect you personally and your business.
What is Liability Insurance?
General liability insurance is unlike the insurance you buy for your home, car, or other expensive physical purchase. Liability insurance protects you, your finances, and your business itself from possible lawsuits and legal fees.
General Coverage
When you purchase liability insurance for your small business, it covers a few things by default:
- Bodily injuries. You’re protected if anyone is injured on your business property as a result of your business practices. This includes employees, customers, vendors, contractors, and more.
- Property damage. If your property is damaged by means that are covered, the insurance will help pay for legal fees, repairs, replacements – anything related to the damage.
- False advertising. If you’re ever pursued for claims of false advertising, libel, slander, disparagement, or copyright issues, liability insurance can help with these legal fees.
- Cyber. In our increasingly digital world, cyber-attacks, viruses, and hacks run rampant. Protect your business against these risks.
- Products. If a customer or anyone else is injured or property is damaged by the use of your products, you can be held liable. Your liability insurance helps with these legal fees, as well.
Extra Coverage
General liability insurance is a good place to start, but there is still more you can add. Depending on the type of business you run, this may or may not be necessary. Certain industries are more precarious than others. For instance, businesses in the construction or healthcare sectors may require more extensive coverage due to the higher risks involved. This might include additional coverage for professional errors, higher liability limits, or specific policies tailored to industry-specific risks. Our team can guide you in determining what extra coverages are most suitable for your unique business needs.
If you’re unsure, we’re always here to help you decide!
- Errors and omissions. This is a special type of liability insurance that protects you from claims regarding financial loss as a result of an omission or mistake on your part.
- Professional. This is outside of things like injuries or damage. Professional liability insurance protects you from claims regarding negligence on your part, or failure to provide the promised service.
- Umbrella liability insurance. This is essentially extra liability coverage should your basic policy not be enough and/or run out.
- Directors and officers. This is a unique business insurance policy that protects members of your board should they be sued personally.
Protect Your Business Today
Being a business owner in the world of legal fees, confusing policies, and unhinged customers is bad enough – you don’t need any more stress. Leave your liability insurance concerns with us and we’ll help you find the best coverage for your individual needs and business practices. Our dedicated team is committed to providing you with personalized service and ensuring that you have the protection needed to confidently operate your business. We understand that every business is unique, and we work closely with you to tailor insurance solutions that fit your specific risks and operational needs.
