Why You Need Business Liability Insurance

Business liability insurance refers to the branch of insurance that protects business owners and their daily operations. In today’s highly litigious society, such coverage is necessary for business owners who want to protect their assets and profits from being completely lost in a legal battle over alleged or actual negligence. A visitor’s minor fall or a significant fire at your site can have a tremendously detrimental affect on your business. Liability insurance for businesses is designed to protect your commercial enterprise if someone files a suit against you for something you committed or omitted, which resulted in another party’s property damage or bodily injury.

Business liability insurance can also give you protection from a loss that occurs because of legal liability arising from products that you sell, distribute, or manufacture, which cause property damage or bodily injury to the users. Such coverage can even provide protection when it comes to omissions or mistakes for professional services rendered to your clientele. Liability insurance for businesses can often be purchased separately and customized to the needs of your company, or included within a commercial package. Limits for coverage generally begin at $1 million per incident but can be raised significantly to cover situations unique to a given industry or company.

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