General Liability Insurance
Commercial general liability policy will protect your business against bodily injury and property damage such as customer slip and falls or employee accidents without an employee is causing a damage to a customers property. Commercial general liability policy will also protect your business against advertising injury like defaming someone or another company.
The general Liability policy will cover the cost for the claims against your business, the medical expenses, administrative costs to handle these claims, court costs judgments and settlements for costs covered claims.
Product Liability Insurance
Product liability insurance can help cover your legal expenses if someone claims that a product you sold, made, or distributed caused an injury or property damage.
– Your business might be unaware that you sold a defective product.
– A customer may claim that your business provided in sufficient instructions, or in accurate instructions causing harm.
– Customer may sue you because they are not happy with the product, even if they don’t prevail you’ll still need to defend this lawsuit.
Liquor Liability Insurance
General liability insurance will not cover claims against your business that arise out of the sale or service of alcoholic beverages. Such claims are excluded via the liquor liability exclusion. Any business that sells or services liquor needs liquor liability coverage. Simply put, if you have a liquor license, you need liquor liability coverage.
Business Interruption Insurance
Business interruption insurance helps replace lost income and pay for extra expenses when a business is affected by a covered peril.
Business interruption Insurance covers
– For lost income from the destroyed merchandise (minus expenses you may have already paid, such as shipping).
– For extra expenses if you must temporarily relocate your business because of the fire (for example, the cost of rent at the temporary location).
Assault And Battery Insurance
For example: If two people get into a fist fight at your establishment and someone gets physically injured, the customer may potentially sue your business for damages. Assault and Battery Insurance policies help protect your business from the risk associated with physical altercations between people at your place.
Professional Liability Insurance
If a customer thinks that a mistake in your professional service caused a financial loss, they can demand this loss to be covered by you. Professional liability insurance helps protect you and your company if you are making a mistake in your professional service. This is also known as errors and omissions insurance.
For example, a realtor representing the buyer, providing a contract to the seller forgets including a contingency clause into the contract. And if the contingency does not happen the buyer may be obligated to go through with the purchase because of this error from the realtor. The realtors professional liability insurance will respond in such a case.
