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LIABILITY
INSURANCE
Business Liability Insurance helps
protect your assets by providing
a first line of defense against
a variety of claims for alleged negligence
or wrongdoing. By covering the cost of defending
or settling these claims, a liability insurance
policy can help you keep your business in
business.
Business
Liability Insurance covers five
basic categories: Bodily Injury is the physical
harm to a person at your place of business,
or an injury caused by your employee at
a client's site; Completed Operations/Products
Liability are losses after your business
has completed work for a customer
or from manufacturing and distributing products;
Personal Injury is the damage to the reputation
or rights of a person or business due to
slander, libel, copyright infringement,
invasion or privacy, false arrest, wrongful
eviction, etc.; Advertising Injury is the
loss caused by your advertising (spoken
or written); for example, an ad that trashes
a competitor; and Independent Contractors
Liability is the damage from the acts of
an independent contractor hired by your
business.
Medical Payments pays the medical expenses
of a person injured on your premises (a
customer, client, visitor, or even a trespasser)
up to a stated amount, regardless of fault
— as a goodwill gesture to prevent
lawsuits.
Business Liability Insurance
will pay three types of damages:
1) Compensatory damages
— financial losses of the claimant,
plus additional monetary losses resulting
from the claim.
2) General damages —
for intangible losses ("pain and suffering.”
“mental anguish,” etc.) and
3) Punitive damages
— penalties against your business
for committing a wrongful act.
A well-crafted Commercial General Liability
policy can help give you financial peace
of mind, freeing you up to grow your business.
Click
here for FREE Liability Insurance Quote. |
