What are the different types of business liability insurance?

There are various different types of business liability insurance available, so how do you know which one is best suited to your needs?

Firstly you'll need to think carefully about what the risks are to your operations. This will help you weigh up what type of protection you will need to mitigate the potential problems.

Once you've figured out what these issues are, you can then start to look more closely about the following business insurance products.

Product liability insurance

This type of insurance is best suited to your needs if you sell, deliver or supply goods or services. It will offer protection in case any of your products cause injury or are found to be faulty.

Product liability insurance will pay out if injury or death is caused by anything you sell.

Public liability insurance

Should a third party die or become injured as a result of your business activities, it's important that you have public liability insurance in place.

This type of cover will offer protection for any loss or damage to property or any economic loss that arises as a result of your negligence.

Why take out business liability insurance?

Incidents that are beyond your control can often occur among businesses, which is why it's so important to make sure you have the right insurance cover in place.

Failing to take out comprehensive insurance may put you at risk of serious financial loss if a problem arises you would otherwise be unable to pay for.

Dealing with the legal ramifications of the incident is often bad enough, but knowing your business could go under because it is unable to meet the costs will only create added strain.

Taking out business liability insurance from a reputable provider is often your most effective form of defence.