As a business owner, every act you participate in can result in either a profit, or a risk. Protecting your business from the impact of potential lawsuits should be a top priority. Liability losses can (and have) caused many businesses to fail. And while only a carefully crafted liability insurance policy can shield your business from this expense and stress, it’s usually the last thing business owners handle.
Liability insurance covers the costs of legal fees, including court costs and the resulting award/judgement if any is made. The insurance company has a duty to defend you including against frivolous lawsuits. Imagine the peace of mind you’d have being free from worry about the attorney costs as a liability case grinds on, potentially for years; and if you’ve got something to take, the plaintiff’s attorneys will often make sure it does.
Massachusetts liability insurance is appropriate for any business that could face potential lawsuits. There are four distinct types that you may need, depending on your business, and your tolerance for risk of financial loss.
General liability insurance is not designed to protect you from everything, however. For example, general liability does not cover you against claims of negligence, even if it isn’t you or your business’ fault. This is because not every business needs that variety of protection (this coverage can potentially be purchased for an additional premium), so to make it part of the policy would over insure lots of businesses, and make the coverage needlessly expensive. You should consider general liability insurance coverage, also called commercial general liability insurance, if either you or your employees:
Finally, general liability can often be combined with several other coverages (such as property) on a business owners package policy for truly tailored coverage.
Kovalev Insurance specializes in covering professional services, and local businesses like yours. We have everything you need right here, including: