According to SBA, general liability isn’t a luxury; it’s an essential policy for business owners. General liability insurance can save your enterprise in case of property damage, bodily injury on your premises, or damage resulting from your business operations. Here is what you need to know about small business general liability insurance.
What to Know About Small Business General Liability Insurance?
Small business general liability policies protect businesses against third-party claims related to physical injury. For instance, your general liability can cover the medical expenses if a customer is injured in a slip and fall […]
The Need for Business Insurance
Running a business can be highly rewarding; however, it has its risks. There are many risks associated with running an enterprise that can hurt your business if not prevented. All businesses, whether big or small, are at risk. Small and medium-sized enterprises (SMEs) tend to be at higher risk than large enterprises. As a small business owner, if your office gets engulfed in fire or a flood destroys your property, it may be difficult to redeem the loss since smaller businesses have fewer assets to draw from. A company in the growing […]
What Is Business Liability Insurance?
Business liability insurance is a policy that covers financial liabilities incurred such as legal defense fees and protects the financial interests of the company and its owners when they face formal lawsuits or any third party claims.
As much as the business liability insurance helps cover certain unexpected expenses, the cost of coverage is still influenced by the type of business being insured and its location. For example, if a company is located in a flood-prone region, it would probably pay more.
There are three main types of business liability insurance, and […]
There are a lot of risks and responsibilities associated with operating a business. Managing these risks daily can become stressful. You also have to consider the threat of an emergency. Interruptions in business can cause significant problems to your financial bottom line, which is why you must consider the benefits of business interruption coverage.
Business interruption insurance helps protect your business during a disaster by covering your operational expenses. Your business is covered if you have trouble paying a loan, your inventory, rent, or taxes. Business interruption coverage also helps you manage payroll while your finances are uncertain. The policy […]