Liability Insurance for Small Business
TOTAL ANNUAL PREMIUM $425* ===> CLICK HERE FOR CERTIFICATE <===
See below for coverage limits
| Liability Coverages | Limits of Insurance | Premium |
|---|---|---|
| Business Liability Insurance Each Occurrence | $1,000,000 | |
| General Aggregate | $2,000,000 | $ Included |
| Products/Completed Operations Aggregate | $2,000,000 | $ Included |
| Personal and Advertising Injury | $1,000,000 | $ Included |
| Damages to Premises Rented to You | $ 300,000 | $ Included |
| Medical Expenses | $ 10,000 | $ Included |
Liability insurance for small business is a key building block in protecting the lively-hood of a small business.
Liability insurance covers negligent “tort” acts. Torts are civil wrongs. Liability insurance can also cover vicarious liability and contractual liability. Vicarious liability is created when someone acts on behalf of someone else. Sometimes this is referred to the doctrine of agency or principal. Contractual liability arises when by contract you have agreed to indemnify another party for your acts of negligence that have created a bodily injury or property damage.
What liability insurance does not cover are intentional acts or criminal acts.
Typically the liability insurance covers accidents that happen or occur on the premises. Coverage is also extended to cover your off premise operations and or services. If your small business sells a tangible product, coverage is provided from claims arising out of accidents from the use of your products.
Some of the more common coverages that you will seen in liability insurance specifically for small businesses is coverage for accidents and claims that create some kind of bodily injury or damages someone’s property. There is also coverage for slander which is defaming someone orally and for libel which is defaming someone in writing. The liability policy can also cover advertising injury, which can be very costly to defend without insurance for this type of claim. Large corporations and the competitors of small businesses are always looking for a way to bring a lawsuit against what they believe to be false advertising. As was stated earlier, intentional acts are not covered but unintentional false advertising would normally be covered under the liability insurance for small business.
As always, please review to your specific liability policy as coverages can be unique to your type of small business.
