How to Choose Your Business Liability Insurance Policy

Selecting a commercial liability policy that is right for your business does not take the help of a quantum physicist. You just need to consider the unique needs of your business in order to determine which policy suits you best. Here are a few questions you may ask to help you make your decision.

  1. Does the policy cover injuries occurring away from the property of the provider?
  2. Will the policy provide immediate financial support for legal counsel in the event of a lawsuit?
  3. Does the business liability insurance policy protect by business income if my house is damaged and I have to shut down my business for a short time because of storm, flood or fire damage?
  4. How much coverage does this policy provide?
There will certainly be many more questions that come to mind as you consider the needs of your particular business. Be sure to write down your questions and discuss them with your agent to be sure you purchase the business insurance policy that fits your company best. After all, too much coverage can cause you to pay much more than you need to for monthly premiums, and too little coverage can cause you to come up short if a situation arises where you need to utilize the protection of your policy. Both instances can have a negative affect on your bottom line.

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