As a small business owner, you have a lot on your plate to deal with. To control costs, you’re wearing a variety of hats, from CEO to accountant to salesperson, marketing director to customer service representative, manager to human resources executive. With so much to accomplish in a 24-hour period, it’s wise to understand what you can handle yourself as opposed to other aspects of the operation that may be best left to the experts. One case in point: the process of obtaining a commercial liability insurance quote for your firm.
The bedrock of protection for most companies
This policy represents the foundation upon which most companies build their entire liability insurance plan. In general, the policy offers coverage for claims (including associated costs and fees for legal defense) resulting from accidents, injuries, or negligence for which your company is found liable. Here are just a couple of examples for which this policy would offer protection:
Slip and fall. Your cleaning crew just finished mopping the bathroom. A customer enters and before you know it, she loses her footing and falls to the ground, breaking her wrist. The premises liability coverage in the policy will step in, protecting you for occurrences of liability stemming from the ownership, occupancy, or or use of a specific premise.
Butterfingers causes an operations liability incident, a risk frequently associated with contractors, manufacturers, or processors. Say you have a job site. A person walking by is injured when an employee accidentally drops a tool while working on scaffolding several feet above the sidewalk, hitting the passerby on the head. This incident is covered under the policy for injury or damage due to activities you conduct.
Don’t leave your business unprotected from risk
Your professional insurance agent has the experience and knowledge necessary to ask the right questions and navigate the complexities of the industry, analyzing your exposures to risk and select the right mix of insurance policies to offer protection. Contact your professional insurance agent for a commercial liability insurance quote and learn more about the variety of risks for which this important coverage will offer protection for your company.