Business Liability Insurance

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Why You Need Business Liability Insurance

As a business owner, you can’t prevent accidents from happening. However, you can have adequate business liability insurance to protect your most important asset. At Jayson Jones Insurance, we specialize in business insurance for your company. Whether you need commercial general liability insurance or small business liability insurance, we have you covered.

What Business Insurance Covers

There is no one-size-fits-all coverage for business insurance. We will customize your policy to suit your situation and needs. What type of coverage you need depends on the business you have. For example, a roofing company will need a different policy than a dry-cleaning business. However, most business insurance will include one or more of the main basic coverage areas, which include business liability, professional liability, and public liability.

Business Liability

You have to protect your company with general liability insurance. You want to protect yourself in case there is a claim against you for the services or products you sell to customers. Your liability insurance should also extend to non-income-producing activities. For example, you might offer free consultations or demonstrations, during which someone could get injured or sustain property damage.
If your business has vehicles, you will also need a commercial auto insurance policy to protect the vehicles, drivers, and your company’s assets. If you do business with another company, you may also need general liability insurance to bid for the contract.

Professional Liability

Professional liability insurance protects you from claims made against you related to professional services you provide. An example of this type of insurance would be errors and omissions insurance, which is often used by tax accountants and lawyers. Any professional advice or services they provide could cause financial harm. Even if you didn’t make any mistakes, a customer or client could still sue you, which is why professional liability insurance is so important.

Public Liability

Public liability insurance protects you from claims made by the general public. These include customers, visitors, and delivery personnel. If someone was injured on your company’s premises, they may file a lawsuit against you to pay for their medical expenses. Public liability insurance will offer that type of coverage, but it’s also useful to pay for legal expenses incurred in your defense.

Factors That Influence the Cost of Your Insurance Coverage

Factors That Influence the Cost of Your Insurance Coverage

The cost of liability insurance will depend on several factors, such as:

  • Industry of your business
  • Square footage of your buildings
  • Location of your premises
  • Number of employees
  • Your annual revenue
  • History of prior claims

Our insurance specialists will find the right insurance policy for your business and protect the assets you’ve worked so hard to accumulate. There is no better way to protect yourself than to get insurance coverage.

Frequently Asked Questions

Without business insurance, you’re putting your company and your assets at risk from day one. It’s almost impossible to stay in business without an accident, natural disaster, or a lawsuit threatening your business. Maybe your business can sustain a big financial hit like that once, but a lot of companies go bankrupt because of a claim insurance would have covered.

Considering the cost of legal fees and potential lawsuit settlements, we recommend getting the highest level of coverage you can afford. You can also purchase an umbrella policy for added liability coverage your basic insurance doesn’t cover.

We understand that you have to watch your expenses as a small business owner. One way to reduce your premiums is to increase your deductible. You can also take advantage of a multi-policy discount. We can help you get the coverage you need and ensure you’re not paying for an insurance policy that doesn’t serve you.

Let’s Protect Your Business with Liability Insurance

Your business is an important asset worth protecting. If you want to stay in business for a long time without putting your assets at risk, you must have business liability insurance. We can create a liability policy that offers general, professional, and public liability coverage. Reach out to our team today to discuss your business insurance needs.