Does Your Company Need Liability Coverage?

No matter how careful you are and regardless of how much training you provide for your employees, accidents may still happen. This is where general liability insurance comes in. It is important that your NJ business has the insurance policies needed to provide financial protection in the event of accidents, and any resulting lawsuits.

Liability coverage may address numerous scenarios, depending on the type of policy you choose. It can protect you in the event a customer slips and falls on your property. If your NJ business sells products, such as food or electronics, you may need product liability coverage for things like food contamination or fire caused by electronic equipment malfunctions. Regardless of the reasons why one of your products may have injured or sickened someone, your company still has a responsibility to the injured party. Your product liability coverage is designed to provide financial protection for such situations.

Should you be a consultant or run a company that provides advice or instruction, you may need professional liability insurance (sometimes called errors and omissions). In the event an action by you (or one of your employees) causes harm to another company or individual, you may be liable for damages.

Depending on the type of business you own, there are other kinds of liability policies you may need. Your agent may help you identify the particular policies that offer the right financial protection for your business.

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