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  • Writer's pictureMarty Walt

Obtaining Liability Insurance Small Business

Updated: May 2, 2023


Liability Insurance Small Business Claims

You may be wondering what types of claims people file against small businesses. Well, let’s say you make a product and that product injures someone. That person could sue your company. That would force you to go to court in order to defend yourself. But defending yourself costs money. If you don’t have the working capital to pay lawyers’ fees and court costs, and all the other costs associated with beings sued, then you may be forced to close down or restructure so that you can take the financial blow.

Some business owners never recover from such litigation, and often the claim comes out of nowhere. The business owner goes about his regular day, having no idea that something is wrong. All the while, the client is talking to a lawyer and filing a claim that the business owner won’t get for a few days or even a few weeks. But when that claim comes in, the business owner had better be prepared, or else things could get very expensive.

So if you don’t already have liability insurance for small businesses, you know what you should do.

Obtaining the Proper Liability Insurance for Small Business

Before you can buy a liability insurance small business policy, your company and your industry must be studied thoroughly. Then, the broker in charge of your account will come up with the perfect policies for your company based solely on your needs. That means the policy will be the most efficient and cost-effective, and it will contain all the coverage you need to properly defend yourself against a business-killing claim.

Looking Out For Your Interests

Many business owners don’t realize that being in business is risky business. When you watch sci-fi space movies and the ships are flying through asteroid fields that are essentially what running a business is like. Your business is the ship, on a course toward its goals, and the asteroids represent all the obstacles your business may face along the way. In sci-fi movies, ships use a force field to protect the ship’s hull from damage. Well, you can think of liability insurance for small businesses as that force field. Once your business is protected, you’ll be able to continue on course knowing that you’ll be safe in case any obstacle stands in your way.

If you’re operating your business and you’re not covered, you’re operating just like a ship moving through an asteroid belt without protection. And, as most sci-fi fans are aware, that’s just not smart. Just like the ships in those movies flying without force fields, operating your business without insurance isn’t likely to end well.


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