It takes a lot to run a small business. You don’t want your company to stop flowing because you didn’t have enough finances to cover you after an accident. There are several different types of liability insurance that you may need for your small business. Insurance Center of Green Valley in Green Valley, AZ has some information you should consider when looking for commercial insurance for your small business.
General Liability Insurance
Your company should think about having general liability because it protects businesses from lawsuits as a result of an injury, accident, or negligence. If your restaurant is responsible for causing several patrons to become ill and they file a lawsuit, you may be responsible for lawyers’ fees, medical expenses, and other costs adjudicated by the court.
Product Liability Insurance
Defective products that are manufactured or sold by your company could make you liable if the product causes injury to a customer. Product liability insurance can be helpful by protecting your business from financial losses.
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance covers your business as a result of malpractice, negligence, or errors. Some states require physicians to maintain a minimum amount of malpractice insurance.
Commercial Property Insurance
Commercial property insurance covers business property from a variety of hazards.
- All-risk policy – covers everything except what is written in the policy.
- Peril-specific policy – covers every peril written in the policy.
Home-Based Business Insurance
Many small business owners operate from their homes. Homeowners insurance may not cover items relating to the business.
Check with the independent agents at Insurance Center of Green Valley in Green Valley, AZ to see if your homeowner’s policy covers your business property. You can also get more information on additional commercial insurance added to your current policy or begin a new one.