|
What is Business Liability Insurance |
|
Business liability insurance protects
your small business in the event of a lawsuit for personal
injury or property damages. It will usually cover the damages from a lawsuit along with the legal
costs. There are different types of Liability Insurance. You may purchase a particular
type based on your business needs.
|
|
What is General Liability Insurance |
|
 General Liability
Insurance: This form of business liability insurance is the main coverage to
protect your business from: injury claims, property damages, and
advertising claims. General liability insurance also known as Commercial
General Liability (CGL) may be the only type of business
liability insurance you need depending on your business situation. |
|
What is Professional Liability
Insurance |
|
 Professional Liability
Insurance: Business owners providing services will need to consider
having professional liability insurance known as errors and omissions. This
coverage protects your business against malpractice, errors, negligence and
omissions. Depending on your profession, it may be a legal requirement to
carry such a policy. Doctors require coverage to practice in certain
states. Technology consultants often need coverage in independent
contractor work arrangements. |
|
What is Product Liability Insurance |
|
 Product Liability
Insurance: Small businesses selling or manufacturing products should be
protected in the event of a person becoming injured as a result of using the
product. The amount of coverage and the level of risk depends on your
business type. A retailer of scrap book supplies will have far less risks than
a wood stove builder.
|
|
What Does It Cost |
|
Cost varies
from state to state and the type of business
you're trying to insure. Monthly payments
can range from $60.00 and above. |
|
Find Liability Insurance Service
Providers |
|
See a list of
insurance service providers
|
