5 Business Liability Coverage Options to Consider
Small contracting businesses need general liability insurance to protect against accidents involving the company or its employees. Depending on your line of work, you might consider taking advantage of some additional liability coverage options. Here are five examples:
1. Directors and Officers Liability: Covers costs arising from legal action against a member of your executive staff.
2. Professional Liability: This is also known as errors and omissions insurance. It covers the cost of defense and damages for improper professional services.
3. Product Liability: Protects you from damages caused by a product you provide, use or install — even if it's manufactured by someone else.
4. Product Recall Insurance: Covers the costs of recalling a product, including damage to brand reputation and loss of revenue/profitability.
5. Data Breach Insurance: Protects against liability claims related to a data breach, which can cost $665,000 on average, according to NetDiligence.
Speak with your insurance agent about what coverages are right for you and your business. Customize your liability coverage options to your specific industry and enjoy peace of mind in (almost) any circumstance.
1. Directors and Officers Liability: Covers costs arising from legal action against a member of your executive staff.
2. Professional Liability: This is also known as errors and omissions insurance. It covers the cost of defense and damages for improper professional services.
3. Product Liability: Protects you from damages caused by a product you provide, use or install — even if it's manufactured by someone else.
4. Product Recall Insurance: Covers the costs of recalling a product, including damage to brand reputation and loss of revenue/profitability.
5. Data Breach Insurance: Protects against liability claims related to a data breach, which can cost $665,000 on average, according to NetDiligence.
Speak with your insurance agent about what coverages are right for you and your business. Customize your liability coverage options to your specific industry and enjoy peace of mind in (almost) any circumstance.