 |
 |
 |
||
|
||||
|
||||||||
|
Business liability insurance Business liability insurance provides complete protection to the small businesses from the lawsuits caused by personal injury or property damage. This is an important kind of insurance that every small business should have. It provides coverage to the damages caused by a lawsuit and also its legal costs. This insurance can be purchased in any form. It depends upon the needs of a business. There are totally three kinds of business liability insurance for small businesses. They are general liability insurance, professional liability insurance and product liability insurance. Generally liability insurance protects the business from injury claims, advertising claims, property damage etc The second kind of insurance is called professional liability insurance. It is also known as errors and omissions. It protects the business from malpractice, negligence, errors, omissions etc For some professions , it is a legal requirement. The last kind of insurance called product liability insurance is designed for protecting small businesses selling or manufacturing products. More Glossary Terms Explained here |
|
|
Suggest an Article
