Business Liability Insurance

As a business owner, each transaction you complete can either produce profit or risks.
Protecting your business from the potential of customer lawsuits should be the first order of business. However, while liability insurance is precisely what safeguards your company from financial difficulties and stress, it's usually one of the last things that concern most entrepreneurs.

The purpose of business liability insurance is to protect your business from financial losses that result from lawsuits. This coverage can help pay for legal costs, judgments and settlements, and other expenses related to a covered lawsuit. It also provides protection against claims of bodily injury or property damage that a customer or visitor may sustain while on your commercial premises.

Liability insurance is appropriate for any business that could face potential lawsuits. There are four distinct types that you may need, depending on your business, and your tolerance for risk of financial loss:

• Personal Liability
• Business Liability
• Professional Liability
• Public Liability

There are other risk that may be covered, including:

• Bodily injury should a client trip and fall over your briefcase, or lose footing on a slippery floor, and you’re found legally liable for their injury.
• Property damage and data loss should you accidentally spill coffee on a client’s server that causes data loss, or a tree falls on their car in your parking lot.
• Personal injury should an employee talk to a fellow employee of the shop about one of your clients in a false and unflattering way. The client learns of this discussion and sues for slander. We will cover the subsequent claim, up to your General Liability policy’s limits of liability, and pay for an attorney to defend you if necessary.

The General Liability Insurance policy is one of the most popular forms of insurance. It covers a business against claims from third parties for bodily injury, property damage, personal injury or advertising injury. It also covers a business against any claim for an “occurrence” that happened on the insured premises. An “occurrence” is defined as a single, continuous accident or event that results in damages to persons or property. This kind of coverage does not cover claims arising out of:

1. Intentional acts by employees.
   
2. Bodily injury or property damage to employees.
   
3. Bodily injury or property damage caused by an employee while driving your vehicle while working; and/or
   
4. Personal injury arising out of your negligence (such as if you fail to provide adequate warnings and instructions to customers).

You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…

While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.

There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

We’re your neighbors. We protect businesses and people we know and care about, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.

Contact us and let the professionals at our company help you forge the strongest shield possible to help you protect the things you are working hard to build.