When it comes to protecting your business, having the right liability insurance is essential for any business. There are two main types of coverage that can help protect your company from claims and lawsuits: bodily injury liability and professional liability insurance. Bodily injury liability helps cover the medical bills, lost income, and emergency assistance of the other driver if you are at fault in a car accident. Professional liability insurance, also known as errors and omissions insurance (E&O), can help cover damages and legal fees in a fault case.
This type of policy is important for all businesses, as it can protect the company and its owner from third-party liabilities.General liability insurance, also known as commercial general liability insurance, is another type of coverage that can help protect your business from claims resulting from normal business practices. This policy covers any unprofessional negligent acts, such as a customer tripping over a box in their office and getting injured. Depending on your industry, you may also need employer liability insurance to cover claims against your company if it is determined that they were negligent. No matter where you are located, it is wise to invest in the right type of liability coverage for your business. Policies generally cover errors and omissions, negligent acts, and misrepresentations.
To ensure that your company is protected against potential claims and lawsuits, make sure to get the right type of coverage for your business.