What Is Business Liability Insurance?
Business liability insurance in Dutchess County NY protects a company’s assets and covers any legal obligations, including medical costs by any injuries on company property. It also provides protection against property damage or injury caused by an action of the company or its employees, working on behalf of the company. Business liability insurance also covers the legal costs of defense and any settlement if a lawsuit is judged against the company. These associated costs include compensation for damages and non-monetary losses suffered by the injured party. This insurance coverage also includes claims of false or misleading advertising, including slander and copyright infringement.
What Types Of Business Liability Insurance Are There?
Business liability insurance protects a company or business owner in the event of a formal lawsuit or any third-party claim. This type of coverage includes any financial liability incurred in addition to expenses involved with the company’s legal defense. There are three main types of business liability insurance: general, professional, and product. Businesses with higher risks that go beyond the standard coverage of conventional business liability insurance may want additional loss reinsurance or umbrella insurance that extends the limits of coverage. This ensures that all costs are covered if there are any claims filed against the business.
Do I Need Business Liability Insurance In Dutchess County NY?
Small businesses that sell services and goods are wise to consider buying general and professional liability insurance. Lawsuits from customers and clients against businesses have become increasingly common. Without business liability insurance, most businesses wouldn’t be able to handle the costs of a large claim against them.
How Much Does Business Liability Insurance Cost?
The cost of business liability insurance is based on a variety of factors such as gross revenue of your business and the type of business. The overall business liability insurance cost reflects how much your business is making, and the risks involved during daily operations.
Finding Business Liability Insurance In Dutchess County NY
Our team at Keep Insurance are experts in insurance coverage. We are here to answer any questions or concerns regarding business liability insurance in Dutchess County NY, Westchester County NY, Ulster County NY, Danbury CT, and Fairfield CT. Contact Keep Insurance today to find out more information. Call now 1-866-KEEP.