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3 Reasons Why Businesses Need Liability Insurance

Posted Oct 13th, 2017 in General, Insurance Tips, Commercial Insurance, Did You Know?, In the News

Protecting your business from potential risks makes perfect sense and that is why all businesses can benefit from having liability insurance.

3 Reasons Why Businesses need Liability Insurance, Youngs Insurance, Ontario

There are a variety of insurance coverage options available when assessing what protection you require for your business. Unfortunately, mistakes happen and when they negatively impact your customers, employees or others involved in your business, liability insurance will limit your burden.

Check out 3 reasons why businesses require liability insurance.

#1 | Operations + Premises

General liability insurance provides coverage for your business operations and the premises from which you operate. If any clients, customers or employees sustain an injury on your premises, your general liability insurance will step in.

#2 | Products

Product liability insurance provides coverage for products and completed operations; if your products cause any harm or are defective, this coverage will provide you with protection.

#3 | Errors and Omissions + Directors and Officers + Employment Practices

Professional liability insurance includes Errors and Omissions, Directors and Officers, and Employment Practices Liability. If you were ever sued by a client for errors, omissions or negligence that occurred when assisting them with a professional service, this coverage would provide you with protection.

When it comes to business liability Insurance, having protection helps negate risks, while protecting any assets you may have is something you should seriously consider. Speak with a Youngs Insurance Broker today to discuss your business insurance policy.

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