As a business owner in Southeast Michigan, one of your main priorities should be protecting what you have worked so hard for. This is where the commercial liability insurance that Atlas Insurance Agency offers comes in. This kind of business insurance protects you and your company as you do business. Let’s get familiar with what commercial liability insurance is.
What Is Commercial Liability Insurance?
Immediately after opening the doors, a business owner will be responsible for the products and/or services offered. Any kind of mishap could lead to a potential lawsuit, resulting in significant out-of-pocket expenses.
Commercial liability insurance reduces the overall chance that you will lose personal assets or your business in the event of legal action. There are several different kinds of liability coverage that can extend this kind of protection to you.
General Liability Coverage
This type of insurance coverage from individuals outside of your operation, such as a customer pursuing a lawsuit due to slipping and falling on the property.
Professional Liability Coverage
Also commonly referred to as errors and omissions insurance, this type of coverage will cover legal-related issues that come from errors in the business, missed deadlines, or poor-quality workmanship.
Workers’ Compensation Coverage
While some states do not require it, workers’ compensation can protect the financial interests of your company in the event an employee suffers an injury while on the job and decides to pursue legal action.
What Are the Benefits of Commercial Liability Insurance?
Commercial liability insurance helps to ensure that you and your business aren’t held liable for legal-related expenses that result from business-related lawsuits. These expenses generally include costs associated with settling and litigating cases, as well as injury and accident damages.
When it comes to workers’ compensation coverage, you have the benefit of knowing that your staff members are protected and will receive the medical attention they need for any work-related injuries without having to worry about losing their position at your company or suing you. This is beneficial for both you as well as your employees.
When your Southeast Michigan business is in need of commercial insurance, you can rely on the team at Atlas Insurance Agency to help you obtain the coverage you need.