When it comes to business insurance, liability coverage is a must. Small business owners face quite a few risks, and in some cases, you may be held personally liable from a financial perspective should an issue arise. Below is a guide to liability coverage for businesses. 

What Does General Liability Business Insurance Cover?

Risk surrounds business owners on a daily basis. Liability coverage protects against a myriad of risks, including property damage or injuries stemming from an aspect of your business. When it comes to lawsuits, this form of business insurance offers protection. Consider how much money you might spend on lawyer’s fees and court costs if you become the subject of litigation. You may also be obligated to pay damages, and this insurance offers funds for this. Liability coverage even protects against claims of libel, slander, and copyright infringement.

Who Needs Liability Insurance?

Virtually all business owners should have liability coverage in place. This is true despite the services you offer, as you might still be subject to litigation. Additionally, litigation can be quite expensive, even if you’re not guilty of the claims against you. In a sense, liability coverage offers peace of mind if the unthinkable happens.

How Much Business Insurance Should You Buy?

You can buy general liability coverage on its own, or bundle it into a business owners’ policy. To determine how much coverage you need, first look at your business. Certain businesses entail quite a bit of risk, such as construction and home improvement companies. These businesses should have a higher coverage limit since the potential for litigation is much higher. An insurance agent will help you determine the proper coverage limit for your needs.

Business owners around the Ozarks look to Steven Hall and the rest of our team at Farmers Insurance Group when they need dependable business insurance. We’ll review your company’s needs, as well as the risks you face when providing goods and services to your customers. From there, we’ll develop a reliable policy that protects you from litigation and claims of negligence. Our other insurance products include auto coverage, life insurance, motorcycle coverage, and homeowner’s insurance. Schedule a consultation today by calling (417) 926-7900 or (417) 257-4274. You can also read customer reviews by visiting us online.