Protect Your Business With Liability Insurance
Starting and growing a small business takes a tremendous amount of effort, time, and money. Because society has become increasingly litigious, entrepreneurs can see their investment evaporate quickly due to a liability lawsuit. To help protect themselves and their companies from exposure, many small business owners turn to Preferred Insurance for professional liability coverage.
Whether they produce goods or deliver services, small businesses face frequent customer lawsuits. Even if claims are frivolous, companies can spend an extraordinary amount of time and money to defend them. Meanwhile, the distraction of combatting a lawsuit can lead to decreased productivity and lost business. Instead of dreading the unknown, many small business owners analyze risk and purchase adequate insurance.
Recognizing Coverage Areas
Fortunately, business liability insurance provides peace of mind for small business owners. While insurance terms vary, coverage typically includes protection for the following risks:
- Defective Products or Services
- Lack of Good Faith
A comprehensive liability insurance policy can also cover unforeseen expenses that come from defending a lawsuit. Reimbursement for legal fees, lost productivity, and other expenses might be included a typical professional liability plan.
Often small business owners combine business liability insurance with other forms of commercial insurance. By working with Preferred Insurance, entrepreneurs can get the right level of coverage to protect their businesses from virtually any risk.