Life is complicated, insurance doesn't have to be.
Read time: 2 minutes
We’ll make this easy.
You need liability insurance but have some questions. No
problem! Check out our quick overview of what liability insurance
is, what it covers and how you can get a quote, below.
What is liability insurance for business?
Liability insurance provides coverage for bodily
injuries and property damage resulting from your business’ products,
advertising, services, or operations.
Essentially, it is your business’ safety net for when
something goes wrong.
For example, let’s say you own a food truck. In a recent
stop, you learn that several customers feel sick after eating your
food. You offer refunds and apologize. Unfortunately, a few decide
to file suit against you.
Your liability insurance will cover these costs and your
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to Avoid Common Commercial Insurance Pitfalls
What does liability insurance for business cover?
As our example above illustrates, it’s important to remember
you’re insuring more than just the initial damage. Your liability
insurance limit should also include considerations for other
resulting damages and legal fees in the event of a lawsuit.
Every business’ liability risks are unique to them. But,
generally speaking, your business’ liability insurance will include
coverage for things like:
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to Help Your Small Business Employees Save for Retirement
Why is liability insurance important for your
Liability insurance is crucial for businesses. It’s there to
address potential damages that you become legally obligated to pay as
a result of a covered loss.
Some industries may require your business to have liability
insurance before doing business with you. And, depending on your
industry, your state may have a mandated minimum amount of liability insurance.
So, yes, it’s important.
Read more: 8
Steps to Feel Confident in Your Commercial Insurance
How to get a quote for liability insurance for your business
Every business’ liability risks are unique. That’s why we
recommend talking with your local, independent insurance agent.
There are so many advantages to working with an independent agent,
to name a few:
Read more: What
Is an Independent Insurance Agent? Everything You Need to Know
Summary: Liability insurance for businesses is
important and is best discussed with your local, independent
*Products referenced may not be
approved/available in all states. Limitations and conditions
may apply. Premium will be based on benefits chosen and
policy rates available at time of application.
Disclaimer: This article is not expert advice. The
analysis of coverage is in general terms and is superseded
in all respects by the Insuring Agreements, Endorsements,
Exclusions, Terms and Conditions of the Policy. Some of the
coverage mentioned in this material may not be applicable in
all states or may have to be modified to conform to
applicable state law. Some coverages may have been
eliminated or modified since the publishing of this
material. Discounts may not be available in all states.
Limitations and conditions may apply. Premiums will be based on
benefits chosen. Please check with your local Independent
Auto-Owners Insurance Agent for details."
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