What is a business liability policy and why do I need it?
There are many different kinds of business liability coverages in Illinois. The most common one is the General Liability policy. This is a broad type of coverage that provides liability insurance for general business risks such as when someone makes a claim for compensation against you for injuries arising out of the course of your business (for example, floor damage in your client’s home while you remodel the kitchen).
Another coverage could be the Professional Liability coverage, also known as the Errors & Omission coverage. This policy covers professionals such as accountants or attorneys to protect against claims of negligence from clients or customers.
Product Liability is another type of coverage that protects your business from claims that a product you made caused bodily injury or property damage to someone else.
What does a liability policy include?
Liability coverages include protection against claims resulting from damages to property and/or people. It covers legal costs and payout for which your company could be liable in case of a claim.
How much is a General Liability policy?
Our customers pay as low as $40 a month for liability insurance, depending on the profession and limits required as well as loss runs.
How long does the liability policy last and how can I renew it?
The typical term for a general liability or other liability policy is 1 year. However, we do offer policies for as little as 3 months or 6 months.
Our favorite Commercial Liability companies include:
