It’s an unfortunate truth, but we live in a sue happy society and business owners often have to bear the burden of legal attacks. Whether these suits are valid or frivolous, business owners need to protect themselves and their business from financial ruin with well-constructed commercial insurance products.
Because every business is different, there is no “one-sized fits all” policy for commercial protection. That’s why we provide all of our clients with a full insurance review before tailoring an insurance package specific to your business. And after the perfect policy is in place, we will provide checkups to make sure it stays that way! Offering only A rated (or better) insurance products, The Insurance Loft will ensure you get the reliable protection your business needs.
What is General Liability Insurance?
General Liability (GL) insurance is essential to any active business. If you own a vehicle, you have car insurance. A home, homeowner’s insurance. If you own a business, you have general liability insurance. A GL policy protects businesses against lability claims for bodily injury and property damages stemming from premises, operations, products, and completed operations activities.
It is very important to understand the difference between 'general liability' and 'professional liability,’ and how each product provides coverage.
Businesses in need of General Liability or a Business Owner’s Policy:
Professional liability insurance, or Errors and Omissions (E&O) insurance, protects companies and individuals against claims made by clients for inadequate work or negligent professional actions. Put plainly, it is designed to protect against mistakes made while practicing or advising within your profession. Covering both court costs and settlement damages, E&O insurance is vital to any business providing professional advice or services.
Businesses in need of E&O (Professional Liability) coverage:
What is Workers’ Compensation Insurance?
In most states, Worker’s Compensation Insurance is required by law. Worker’s Comp protects employees and business in case of accidents, workplace injuries, and lost wages. Additionally, in cases of death, Worker’s Compensation provides families of the deceased a financial benefit.
Businesses in need of coverage:
If your business is your livelihood, connect with The Insurance Loft to schedule a completely free commercial insurance consultation.
March 20, 2017
by John Connor