Small Business Liability Insurance

the Best
Professional and Employers' Liability Insurance
for Your Small Business Insurance Coverage Needs

Small business liability insurance has become critical for entrepreneurs with the increase in litigations. 

Small business public liability insurance, general liability insurance, professional liability insurance, product liability insurance, and employer’s liability insurance have become essential for business owners to prevent lawsuits leading that often lead to bankruptcy.   

Many insurance brokers offer competitive small business insurance coverage.

It is easy to understand the need for liability insurance, and the various types of small business liability insurance.  

Liability insurance covers the employer against any harm arising from malpractice within the organization.  Liability insurance covers faulty products manufactured/sold by the company and services provided by the company.

Employer’s liability insurance protects the employer from the result of his or her own actions. On the successful resolution of litigation, the harmed individual is given a cash settlement by the insurance company on behalf of the insured organization, your company.  Hence, the business is saved from going bankrupt, while retaining its positive image in the marketplace.

The simplest and most widespread of small business liability insurance is general liability insurance. General liability insurance protects the business from malpractice of employees including slander, and infringement of trade related intellectual property rights (TRIPS).  It also protects the business from injuries to employees, vendors, customers, and visitors, occurring within the premises of the organization. These injuries could occur due to negligence or direct action of employees.

Professional liability insurance is vital liability insurance coverage for small businesses in the service sector. This type of insurance protects service providers such as doctors, lawyers, accountants, financial advisers, and even club and restaurant owners from unsatisfied customers.

Public liability is a form of professional liability insurance that affects owners of restaurants, clubs, pubs, shopping malls, hotels, theaters, and any other public place where the owners or service providers are partly responsible for the safety of the customers. Small business liability insurance is an asset for your small biz because it keeps you and your assets safe especially if you are a sole proprietor.

Product liability insurance protects the business against any harm resulting due to defective or malfunctioning products. This insurance applies to all small business manufacturing units as well as software development companies.  As software products are intangible, insurance becomes all the more necessary to determine how “malfunction“ is defined.

The last type of liability insurance that effect small businesses is employers liability insurance. This insurance protects the employer from litigations of discrimination towards the employee on terms such as sex, color, religion, and medical background.  Employers insurance also protects the employer against cases of wrongful termination and sexual harassment.

While it should now be relatively easy to decide the type of insurance a business really needs, finding the right broker can be troublesome. Insurance companies can give competitive quotes and rates for various packages, depending upon the needs of the organization. It is always best to choose an insurance company that deals with the specific type of service or product your business offers.