While you may already have some insurance in place, such as commercial property insurance, commercial auto insurance or home-based business insurance, these types of policies , however will not necessarily help to protect your business from any legal concerns you may be faced with.

Since there are various types of liability scenarios you may encounter, there are in turn, specific types of liability insurance packages to help support your ongoing business needs.

This first type of insurance is a key liability insurance staple for any small business owner to carry. Commercial General Liability insurance protects small businesses from incidents where customers, suppliers or other individuals experience bodily injuries as a result of engaging with your business.

Additionally, CGL can also help in instances where an employee is found responsible for inflicting damage on property belonging to a third party. Ultimately, having this type of insurance in place is highly recommended for a wide range of small business owners.

As the name states, Product Liability Insurance can help small businesses deal with the high costs associated with any property damage or bodily harm that can occur as a result of the products that their business is manufacturing and/or selling.

If this type of service reflects your daily business operations, then this is a strong indication that you will benefit from having this type of insurance coverage.

This final type of liability insurance coverage exists to protect businesses from lawsuits that could be filed against them, in the event a client encounters a financial loss as a result of any actions that are deemed wrongful on the part of the business owner.

Lawsuit claims can range from clients experiencing a deficit in income due to contractual project deadlines are not fulfilled or when a business does not meet the previously agreed upon project or service expectations and financial losses occur. When small business owners find themselves in this type of situation, this means that they could suffer huge financial losses of their own.

If you are running a business that offers services or products for a fee, then Professional Liability coverage will definitely be worth an extra consideration and help protect you from these types of outcomes.

In the end, choosing the best liability insurance coverage really does depend on the nature of your small business and the services and products you are providing.

That said, if you are currently undecided about which type of liability insurance you need, Commercial General Liability insurance can serve a wide range of small business needs, and is a great place to start.

As a small business owner, you can then discuss your needs with an insurance agent and they can help you to identify which coverage will align the most accurately with your specific business interests.

Contact Leaders Insurance for more information on small business liability insurance coverage and let us help to ensure you are fully protected in all essential areas of your business.