Small to medium-sized companies remain at a high risk for liability claims. Unfortunately, no matter what steps you take, you may find yourself simply unable to avoid all accidents and all liability claims. That’s why professional liability insurance is so valuable. It works to extend your insurance protection further, giving you far more coverage and peace of mind.
Should you Increase Your Business Liability Insurance?
Putting your industry aside for a moment, consider the type and amount of commercial liability insurance you have. Is it enough? In most cases, general liability insurance is not enough for most companies. It provides for some level of financial protection from customer and visitor accidents or product failures. However, it only can provide a basic layer of coverage.
A single lawsuit, on the other hand, can amount to millions of dollars in loss. Small business liability insurance needs to go further than general liability insurance can offer. That’s why extending your coverage with professional liability insurance (or a more comprehensive commercial liability plan) can give you support. If you operate in a professional capacity, which means you provide advice and guidance to others or provide a professional level of service, you need to extend your protection.
Profession’s That Need Professional Liability Insurance*
- Technology Insurance
IT Consulting; Development-Website, Software; Designers-Project, Systems; Support-Security, Hardware/Software Install, Medical Devices.
- Consulting Insurance
Business, Management, Education, Life Coaches, Event Planners, Marketing, Research, Public Relations, and Labs.
- Real Estate Insurance
Agent, Broker, Property Management, Auctioneer’s, Consultants, Project Managers, and Appraisers.
- Creative Insurance
Graphics, Photography, Design, Advertising, Branding, Authors, Producers, and Promoters.
Architects, Engineers, Lawyers, Tax Preparers, Interior Design, Inspectors, Transportation, Instructors, and Financial, Agents.
Here’s the Good News
Most of the time, you can extend your coverage significantly without having to worry about the cost. Further coverage to $1 million or even higher to $5 million can help you avoid a significant claim. Depending on your industry, you’ll need to carefully consider the level of risk you are exposed to. Specifically, you need an agent that can give you solid advice.
When you work with our California business insurance agents, we’ll answer each one of your questions. We’ll gather information about your business, your risks, and your claim history. Then, we can give you the very best price possible on the level and amount of coverage you need specifically. Don’t put your business on the line. Let us help you avoid this risk.