Choosing the right insurance policy is crucial for a small business. Mistakes are bound to happen, and you want to be ready for them. Small business liability insurance is a smart form of protection so you can stay focused on the growth of your business.

How Your Business May Be at Risk

When things go wrong, companies can be held liable for any damage. Without coverage, a business can get buried under lawsuits or any expenses incurred from an injury.

Within normal business operations, you can be held liable for:

  • physical injury
  • advertising injury
  • slander/libel
  • property damage

If a company is not insured, there are potential risks that can lead to bankruptcy and loss of reputation.

How To Get the Right Coverage

A small business should have insurance for employees as well as any third-party contractors. A good option for initial coverage would be a business owner’s policy. A BOP can cover:

  • copyright infringement
  • medical expenses
  • theft or damage

It is also important to know that some companies are not able to sign client contracts unless there is an insurance policy in place.

Small business liability insurance provides a sense of reliability when you work with other companies. It a necessary form of protection for you, your employees, and your clients.