Two Key Forms Of Liability Insurance for Small Businesses

If you’ve searched for insurance in Albuquerque NM then you’re aware of how the number of available options can be confusing to new business owners who are outsiders to the insurance industry. In order to get the right level of insurance, it’s best to work with an experienced agent who understands your business landscape as well as local regulations. In the meantime, here are 2 of the key liability coverages that you should expect to carry when you start your new policy to keep your business protected.

General Liability Insurance

General liability is a generic coverage that protects you in case a third party sustains bodily injury or property damage because of your business. If you’re taken to court for such an incident, your policy will cover the cost associated with your legal fees as well as any payments for which you’re found liable.

Professional Liability Insurance

Professional liability covers lawsuits that are filed against you when a customer claims that negligence or an error on your part led to them experiencing a loss. This can range from the advice you provided as a financial consultant to a part that you manufactured that led to setbacks for a customer.

There are other forms of liability insurance available depending on your industry. Work with an agent who’s experienced with insurance in Albuquerque NM to create the perfect policy for you.