Business Insurance

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Why do you need business insurance?

When running a business, you HAVE to consider your liabilities. Even if you don't have a big, prosperous, business, liability insurance is essential and can be a crucial part of protecting your business and financial health.

Liability insurance covers employees and customer injuries that may occur at your place of business. Even in cases where someone you are not associated with causes someone else injury at your place of business, your business may still be held liable for damages. Liability insurance can cover you from such claims of personal injury as well as any other claims involving any type of abuse and sexual harassment.

What are different types of commonly used business insurance?

There are various types of liability insurance for businesses. General liability insurance protects you from most business associated injuries and accidents. Professional liability is an often overlooked coverage which protects you from claims from clients who may have suffered losses from your malpractice, professional advice, errors and/or negligence. Product liability protects your business from potential problems caused by your product. The amount of coverage for product liability will vary depending on what products and/or services your business serves. Common business liability insurance exposures are:

  • Commercial General Liability Insurance (CGPL)
  • Business Automobile Policy (BAP)
  • Employers Liability and Workers Compensation
  • Manufacturers and Contractors Liabilities (M&C)
  • Owners, Landlords, and Tenants Liability Insurance Policy (OL&T)
  • Physicians, Surgeons, and Dentists Professional Liability
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