As a business owner in Geneseo, NY, you know keeping your venture afloat requires quite a bit of effort. That’s why protecting your business is crucial, and obtaining a professional liability policy from Chanler Agency is an integral component of securing your business in the event of harmful lawsuits. The following are just three of the many ways a professional liability policy can help you.

3 Ways a Professional Liability Policy Protects Your Business

Helps With Claims of Negligence

If your business is on the receiving end of a lawsuit resulting from claims of negligence, professional liability insurance can provide essential funding for exorbitant legal expenses. Lawsuits alleging negligence can be extremely damaging to a business, from both a financial perspective as well as to their reputation. In this case, your policy will cover the monetary costs associated with lawsuits to ensure you can continue operations while enmeshed in legal battles.

Mitigates Errors or Oversights

Lawsuits can also arise from an error or oversight made by your business. While these mistakes are often unintentional, they can cause serious damage to your business if you are found culpable in court. Business insurance serves to cover losses related to suits just like this, which is highly important for your commercial enterprise to remain viable from one year to the next.

Offers Assistance for Unfinished Work

When you sign a contract, you are obligated to live up to those terms. Failure to do so can land your business in hot water over breach-of-contract claims, which can be costly and impact the efficiency of your company. Professional liability is vital in this case, as it will prevent your business from incurring financial losses while fighting claims.

Whether you need a professional liability policy to protect your business or are in search of personal auto insurance, Chanler Agency has a reputation for client-focused service you can trust. Residents of Livingston County can call (585) 243-5520 for the Geneseo office or (585) 346-3118 for the Livonia location to schedule an appointment with a skilled agent. You can also visit their website to learn more about the business insurance products currently being offered.