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By Dawn Kraus


Liability Insurance

Liability Insurance protects a business in the event of a lawsuit for personal injury. Protecting small business from risk is the foundation of success and liability insurance covers the damages of a lawsuit as well as the legal costs. Your policy should be a comprehensive general liability policy that provides coverage to third parties for the following:
  • Personal and advertising Injury
  • Fire legal liability, which is often mandatory if you lease your premises and protects you in the event your negligence results in damage or loss to your landlordís property
  • Products and completed operations
  • Medical expense or medical payments
  • General liability for your premises for accidents such as tripping over torn carpet resulting in injury

For professions with a higher degree of care or standard such as attorneys, insurance agents, and doctors, some policies will exclude Products and Completed Operations and or Personal and Advertising Injury coverage. In this case you may need a Professional Liability Malpractice or Errors and Omissions Policy.

Dawn Kraus has been working with small businesses and not-for-profit organizations since she graduated Johnson and Wales University in 1994.
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