Business Liability Insurance is available for just about every risk your business might face. FPH&A staff members can tailor a policy to specifically fit your unique business needs and business risks. Below are a few general coverage options.
General Liability Insurance
Business owners purchase general liability insurance to cover legal fees accumulated due to accident, injuries and claims of negligence. These policies may protect your business against payments as the result of bodily injury, property damage, medical expenses, libel, slander, legal fees.
Product Liability Insurance
Companies that manufacture, wholesale, distribute, and retail a product may be liable for its safety. Product liability insurance protects against financial loss as a result of a defect product that causes injury or bodily harm. The amount of insurance you should purchase depends on the products you sell or manufacture. A clothing store would have far less risk than a small appliance store, for example.
Professional Liability Insurance
Business owners providing services should consider having professional liability insurance (also known as errors and omissions insurance). This type of liability coverage protects your business against malpractice, errors, and negligence in provision of services to your customers. Depending on your profession, you may be required by your state government to carry such a policy. For example, physicians are required to purchase malpractice insurance as a condition of practicing in certain states.
Commercial Property is another large segment of Business Liability, please click here for more information.
There are many other choices but if you would like more information,
please call 256-551-0060, or click here for a free quote.
“Types of Business Insurance | SBA.gov.” Types of Business Insurance. SBA, n.d. Web. 25 Mar. 2013.