If you have a business or plan to have one in the near future, you need commercial liability insurance coverage. It will protect your business from common claims of all types. It is always better to have too much than too little coverage.

You will find that your business is at risk of being sued all the time, every day, whether it will have to do with bodily injury or damage to property. This type of insurance is designed to assist you in continuing the operation of your business while you deal with fraudulent, as well as real, claims.

There are four categories that this type of insurance covers. The categories are property damage, personal injury (includes slander), bodily injury, and advertising injury, such as infringing on the copyright. It covers the cost to defend your business or settle the claim, as well. You should not suffer financial loss at all, and it includes damage to you by others, even your employees. Medical expenses should also be paid for, and it protects against fire, as well. You should check your state for details of the various types of coverage.

You should always examine what is covered on your policy carefully, as it may vary by state, and it may have exclusions and limitations, among other conditions. Also be sure to look into a professional liability policy in addition to your commercial policy. This is also called errors and omissions coverage.

To reiterate, the basic commercial liability coverage is just that. It will cover your customers and your premises. Also theft and destruction of your computer software and hardware is covered. It may also cover some furniture and other equipment.

As it is always better to be over-insured, as opposed to under-insured, you might look into other types of policies as well, such as life and disability, in addition to your commercial liability insurance coverage. Consult with a business insurance professional to see what types of coverage your business requires.

With general commercial liability insurance your company gets basic protection. It may need other specialized coverage such as a small business product liability insurance policy depending on what industry you are in.

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