Your business took a lot to build up – protect it with reliable insurance.
Any business, large or small, is most likely thinking forward about the future and how to build up their business. Despite the huge potential for business, owners should be smart in protecting their company. This includes protecting it from legal errors, financial strain, and reputation damage. Securing business liability insurance is a concrete way to protect your business’ foundation!
Business liability insurance protects your 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, whether or not the case is won or lost.
Types of Business Liability Insurance
General Liability Insurance: This provides coverage to protect your business from injury claims, property damages, and advertising claims. Also known as Commercial General Liability (CGL), it may be the only type of business liability insurance you need depending on your situation!
Professional Liability Insurance: Businesses that provide services will need to consider having this coverage to protect from errors, malpractice, negligence, omissions. Depending on your profession, it may be a legal requirement to carry such a policy. Doctors and those in the tech industry are likely to need this coverage.
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, so be sure to talk to your insurance agent about your risks.
Whichever you choose is best for your business, it’s important to realize that not even your business is immune to dangers. Contact Tompkins Insurance, your independent insurance agency, to learn how you can safeguard your hard work with business insurance for your small business.