Public Liability Insurance for Small Business

Public liability insurance for small business is a necessity for protecting your company's financial assets. Customers, contractors, bystanders, vendors and even trespassers may sue your company for physical injuries or property loss incurred on your premises. Public liability coverage pays benefits to your organization to cover legal fees and damages if you are sued by a member of the public.

For most small businesses, especially those in the retail or restaurant industries, having a high volume of foot traffic is considered a great benefit. The more people come through your store, restaurant or bar, the higher your profits are likely to be. Unfortunately, this benefit is actually a double-edged sword. The more foot traffic you have at your place of business, and the more interaction your employees have with clients, customers or passers-by, the more likely you are to be sued.

Smaller businesses that operate in areas that are frequented by large crowds of people, such as malls and shopping centers, are at increased risk for lawsuits. In businesses where alcohol is served, the risk is even higher. The greater the chances for physical harm, either accidental or intentional, the greater your chances of a lawsuit.

Liability Insurance Advantages

As a small business, you can't afford to spend a lot of money on liability coverage or professional liability insurance protection. On the other hand, you can't afford to pay high litigation costs or damages to a plaintiff if you are determined to be at fault in a lawsuit. With adequate public liability insurance for small business protection, you can go about your work without worrying about the financial repercussions of litigation. Take advantage of the easy-to-use form on this website to compare quotes and start the process of finding an affordable insurance policy that provides the most comprehensive protection.

Public liability insurance for small business benefits pay attorney's fees if your company has to go to court. Even if the suit is dismissed, you'll still have to pay these costs, which may be considerable. Unfortunately, some members of the public can drag out unfounded lawsuits for months before the case is settled. Your liability insurance benefits will cover your attorney's fees so that your small business doesn't have to pay for these costs.

Benefits from your public liability insurance for small business plan pay for damages awarded to a plaintiff. In some cases, especially if severe bodily injury occurred, these costs can bankrupt a smaller organization. To prevent major losses, prudent business owners invest in enough insurance to protect their enterprise against this risk.

In the case of a serious injury or loss of property, the damages awarded to a plaintiff may exceed the maximum limit established in your contract. With the incidence of commercial litigation on the rise, more small companies are investing in the maximum public liability insurance for small business coverage. Ask your public liability insurance broker about umbrella plans, which extend your coverage beyond the maximum limit, if necessary. An umbrella option may save your small business from severe financial losses.

Minimizing Costs of Public Insurance

You can secure lower rates for your public liability insurance for small business premiums in several ways. Paying a higher deductible, if a deductible is offered, may reduce your payments. The deductible is the sum that your company must contribute towards your damages before your public liability for small business coverage takes over. The more you're able to pay out of pocket, the less you'll pay for your protection.

In some states, you may be required to pay higher rates simply because most of the commercial cases in your state are decided in the plaintiff's favor. In this case, you may be able to compensate for these elevated rates by combining multiple policies from the same insurer to receive a discount. You may also be able to pay lower premiums once you've established a history of low claims.

Reducing your risks by preventing injuries or accidents is one of the most effective ways to lower your public liability insurance for small business payments. Talk with the broker who handles your public liability insurance for small business plan about risk management or loss control training programs. Most insurers offer loss control and safety training to employees in order to reduce the number of claims that they receive from insured businesses.

Having access to the internet in your office can simplify your search for coverage. Take the time to evaluate rates from a number of insurers to see which company is offering the highest maximum limits at the most affordable rates. Ask about applicable discounts and safety or security measures that you could take to reduce your public liability insurance for small business rates. Look for a financially stable provider with a history of protecting companies like yours in your community.

FREE Business Liability Insurance Quotes

Get Quotes

Business Liability Testimonial

"It took almost five minutes of filling out a form to get connected with liability insurance providers tailored to my needs."

Teresa N, Miami FL

Business Liability Testimonial

"This site helped put me in touch with a business insurance provider for my dental clinic quickly, with no fuss. Very convenient!"

Christina T, Tempe AZ

Business Liability Testimonial

"I was very surprised at how fast and easy it was to get a large selection of business liability insurance quotes using this site."

Sarah J, Chicago IL

  • Allstate
  • Nationwide
  • American Family
  • Country
  • Hartford
  • Farmers