Torian Insurance offers affordable business liability insurance that can protect your company from any potential lawsuit. We have a wide range of policies to choose from, so you can find the perfect coverage for your business.
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Don’t allow a lawsuit to threaten you, your business finances or your personal assets. With business liability insurance, also known as general liability insurance, your business is protected from claims caused by bodily injury or property damage to others. Without business liability insurance, you could be responsible to pay for these costs out of pocket ruining everything you’ve worked hard for. While nobody likes to think about the worst, lawsuits are not unheard of and you should be prepared in the event that your business is found liable.
You can rest easy with Torian. As independent Insurance agents, we work for YOU, not the insurance companies! Our expert staff has your best interest at heart which means providing the best coverage.
Business liability insurance, also known as general liability insurance or commercial liability insurance, is a type of insurance that helps protect businesses from financial losses that can occur as a result of claims or lawsuits arising from third-party injuries or property damage.
This type of insurance can help cover the costs of medical bills, legal fees, and settlements or judgments resulting from such claims.
However, business liability insurance is often required for businesses to perform certain activities such as sign a lease, fulfill the terms of a contract or get licensed.
Whether you know it or not – You could be held liable in a number of different scenarios.
In some cases, a customer can file a lawsuit against your business for an accident that occurred at your establishment or office, even if you’re not directly responsible. For instance, if a customer slips on a wet floor and sustains injuries, you could be held accountable for their medical bills.
Legal defense costs, medical bills, and lawsuit expenses can be devastating to a business, which is why all businesses should carry general liability insurance.
Business liability insurance is typically recommended for any business that interacts with customers, clients, or other third parties. This includes businesses of all sizes and industries, from small family-owned shops to large corporations.
Some industries who carry more risk than others include: construction, healthcare, hospitality, retail and manufacturing.
The cost of a general liability insurance policy varies depending on several factors, such as the size and type of your business, the level of risk associated with your industry, and the coverage limits you choose.
On average, small businesses can expect to pay between $400 and $1,500 per year for a general liability insurance policy with a $1 million coverage limit. However, this is just an estimate, and your actual cost may be higher or lower based on your specific circumstances.
Policies can vary but in general, business liability insurance provides protection from claims resulting from:
BOP, also known as Business Owners Policy combines general liability and commercial property insurance. Therefore, if you have a BOP you do not need to purchase business liability insurance separately.