Liability Insurance Coverage For Business. When an insurance company already has an idea about your business, they would suggest a specific insurance coverage according to the perceived risk and the type of your business. For instance, if a customer or vendor were to trip over a wire or slip on a puddle on your commercial property and suffer an injury, this type of coverage would cover the cost of any necessary medical care that they might require.
A bumbershoot is the maritime equivalent and can extend over marine liability coverages such as protection and indemnity. A business owner's policy (bop) combines property and liability insurance by packaging these coverages into a single insurance policy. Small business liability insurance quote for professional liability.
Accidents, natural disasters, and lawsuits could run you out of business if you’re not protected with the right insurance.
While general liability insurance isn’t typically required by law, it’s still likely required by your landlord, mortgage company, or clients. There is also “professional liability insurance” that is designed for small businesses that provide some type of services to customers. Business liability insurance can provide your business with coverage against claims resulting from property damage, accidents, and bodily injury. While general liability insurance isn’t typically required by law, it’s still likely required by your landlord, mortgage company, or clients.