Here’s why you need liability insurance from day one.
Liability insurance protects your business from being sued in the event that you, your employees, your suppliers or your equipment causes a mistake that hurts someone involved with your business. Since you can’t predict when something will go wrong, it’s a good idea to have liability insurance in place on or before opening day.
Here are some details on the main types of commercial liability coverage.
- Personal advertising and injury. Protects you if an individual or another business claims you’ve caused them harm as a result of your advertising or other activities.
- Bodily injury. Protect you if someone sues you because they were hurt on your premises.
- Product liability. Protects you if your products are defective or cause serious harm.
- Cyber liability. Protects you if there’s a lawsuit because of an electronic security breach where personal or business information has been compromised.
- Non-owned automobile liability. Protects you if your employee uses their personal auto for something related to work, their vehicle gets into an accident, and their personal insurance won’t cover it.
- Professional liability. Protects you if you’re sued by someone for errors, omissions or negligence in the course of performing professional services.
- Property liability. Protects you if you’re sued because your property caused damage.
Want to know what type of liability insurance your business needs? Talk to BSMW to find out, for free.
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