Protect Your Company With Business Insurance

actually putting their own interest on the line when they open a small business. Business liability insurance will protect business owners from having to pay legal fees out of pocket up to the policy limit.

Many people mistakenly think that the formation of a limited liability company (LLC) actually indemnifies the owner from being held liable.  However, business owners can be held personally liable, if one of the following conditions are satisfied:

*the business owner has signed a personal guarantee for a loan.
*the business owner operates the business without the proper legal structures
*the business owner has personally injured someone
or
*the business owner has been negligent or irresponsible in managing the business.

Most small business liability insurance policies will protect business owners if they are hit with lawsuits.  Third party Property damage and personal injury lawsuits will most often result in general liability claims on a small business GL insurance policy. However, there are many different forms of liability insurance to cover specific exposures.

General Liability Insurance

The first and most commonly purchased form of liability insurance is general liability insurance. This protects businesses from claims arising from bodily injury or property damage due to your company’s negligence. Keep in mind that you must purchase separate property insurance to cover your business contents and the building