Types of Liability Insurance

Different Liability Insurance Products for Different Business Needs

Your company is growing, you have a great product that consumers want and you have the right staff to fill their needs. But what if something goes wrong? Do you have the right commercial liability insurance for your business?

Liability insurance products protect you and your company from expensive lawsuits. But a professional consultant whose product is their expertise has different liability insurance needs from a company that sells clothing.

General liability insurance policies typically cover you and your company for claims involving bodily injuries and property damage resulting from your products, services or operations. It also covers you if you are held liable for damages to your landlord’s property. Policies typically extend to advertising injury – if, for example, your advertising violates a copyright owned by someone else.

General liability insurance may be the only policy you need, depending on the business you’re in. But it won't protect your company from claims alleging professional errors or negligence, faulty employment practices or alcohol related injuries if you're in the business of selling or serving liquor.

Here are several specific types of liability insurance that can round out your policy.

Employment practices

Employment practices insurance offers broad protection for you, your company, your managers and your employees in the event that someone files a claim alleging unfair employment practices. Claims can range from age and gender discrimination to sexual harassment, breach of contract and mismanagement of employee benefits.

Product coverage

Product liability insurance is available to small businesses that make or manufacture goods that are sold to the public. It offers protection in the case that a consumer becomes injured from using your product. Cost of the insurance will depend on your industry.