Commercial Liability Insurance

Commercial Liability Insurance

Several of today’s businesses have commercial liability insurance. With this coverage, a business is protected if they are sued or legally responsible for loss or injuries. Since it is difficult to avoid mistakes 100 percent of the time, this coverage can minimize a business’s risk.

Coverage Options

Depending on the nature of your business, you can select a liability policy that meets your needs. There are policies for general liability, professional liability, product liability, and errors and omissions. Generally, companies can choose from two types of policies. The first option covers claims made. This is ideal for construction or design professionals who might be held liable several years after the error was made. Some companies might need an occurrence based liability policy that provides insurance at the specific time of the incident.

Limitations

While commercial liability insurance is extremely valuable, it does have some limitations. In most cases, the policy will not cover liabilities resulting from automobiles, injured workers, property damage, and pollution. Fortunately, there are additional policies available to cover these risks and protect today’s businesses.

To determine what policies your business needs, make sure to contact a qualified insurance agent. Together you can determine which liability coverage is best for your company. You can also evaluate whether or not additional policies are necessary.

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