General Disclaimer: We are not responsible for any errors or other inaccuracies in the content on our website. All the articles here are presented with no warranty. The information displayed on businessbytes.net may be different from what you see when you visit a financial institution, service provider, or a specific product's site. The information provided on this website is solely for educational and informational purposes. Before you make any financial decisions or implement any financial strategy mentioned on the website, we recommend that you obtain considered and independent advice from a financial professional who understands your financial needs.
Advertiser Disclosure: Businessbytes.net does not include all the available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers. Card Listings and other financial products that appear on this site are from financial companies for which businessbytes.net may receive compensation. This compensation may impact how and where products rankings on this site including, for example, the order in which they appear.
When Does One Need Small Business Liability Insurance
Are you an innovate and proud proprietor of a small business? Do you own a vegan restaurant or a hip cafe dedicated to a legendary musician or band? Do you show off your culinary expertise in a traveling restaurant, share your passion with a vintage sports store, or service people with a boutique hotel? No matter what business you manage, as an owner, make sure you possess a business liability insurance policy. It lets you run your business smoothly, even when you are faced with the unlikely event of a lawsuit from someone who has been affected in some way by your business activities.
A liability insurance, taken up for a small premium, will be extremely useful when you least expect it. It keeps the business going without a hitch and is a compulsory expense that must be budgeted and paid for. Depending on the nature of your business venture, whether you own or rent your office or factory space, and plenty of other important factors like its reach and its risky nature, the premium charged for a liability insurance would vary. An attractive perk is that most liability insurances are affordable, they cost must less than what a claim could cost your company.
Injury, damages, lawsuits, investigations and settlements, patents and trademark infringements, medical expenses, are all covered by a general liability insurance policy. There are other charges and compensations that do not fall under the purview of this type of insurance. Make sure you read your insurance policy copy, including all the fine print, thoroughly.
There is a lot at stake because accidents are bound to happen anywhere. And whether it is employees or the public at risk, it is your company that has to be safeguarded against lawsuits. If your business means something to you, a liability insurance is what you will be thinking about when you finish reading this sentence.
It is time to find a professional insurance agent who you are comfortable with and who has the proper knowledge to guide you regarding your business liability insurance needs, with your interest in mind.
We hate spams as much as you do. Get the latest financial news in your inbox!
top rated cards
Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®
Citi® Double Cash Card – 18 month BT offer
Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer
Citi Simplicity® Card - No Late Fees Ever