There are 669,224 small businesses in Massachusetts alone. Several different types of coverage are needed when owning an operation. Liability insurance is one of the central policies for your company.
Fortunately, an independent insurance agent can review your coverage at no cost, making sure you're well prepared. They do the shopping for you so that you can relax. Connect with a local expert to get started.
What Is Liability Insurance Coverage?
There are several ways you can obtain liability insurance for your Massachusetts business. What is necessary for your operation will be dependent on your industry and day-to-day tasks. In essence, all liability policies will have the same foundational coverages.
- Liability insurance: Will pay for a lawsuit arising out of bodily injury, property damage, and libel or slander. It can be obtained for business and personal use.
What Is Commercial General Liability Insurance?
In Massachusetts, your commercial general liability insurance is the backbone of your operation. It will pay for several types of claims that could arise when you're a business owner. Here are some losses where it could apply.
- A customer slips and falls on your premises
- A building catches on fire
- A product is improperly installed, causing a water loss
What Is Professional Liability Insurance?
If your company is negligent in giving advice or consulting, then professional liability coverage can save you a lot of hassle. It will protect your business from a lawsuit arising out of professional malpractice. Some industries where professional liability applies in Massachusetts are as follows.
- Real estate agent
- Insurance agent
- Financial adviser
- Business broker
- Business consultant
What Is Employment Practices Liability Insurance Coverage?
If you have employees for your Massachusetts business, there are specific policies that you'll want to obtain. Employment practices liability insurance will protect your business from an employee lawsuit. Check out what it covers.
- Employment practices liability insurance or EPLI: Pays for a lawsuit filed by a disgruntled employee due to discrimination or sexual harassment in some form.
What Is Liability Coverage on Home Insurance?
Your Massachusetts homeowners insurance policy will come with liability protection. Other automatic coverages come standard as well. Take a look at some instances where liability protection could apply.
- A guest or trespasser injures themselves on your property
- Your tree falls and damages your neighbor's roof
- You have a pool party, and a guest drowns
What's the Difference between Full Coverage and Liability Insurance?
Full coverage in Massachusetts is referring to your commercial auto policy. Your auto insurance comes standard with the minimum limits of liability, anything else you'll need to add. Take a look at the difference.
- Liability only insurance: This is just liability coverage at the amount preselected for your auto policy. It will pay for bodily injury per person, per accident, and property damage of another party.
- Full coverage insurance: This will include additional coverages that protect you on the road. Things like comprehensive, collision, towing, and more are among the optional coverages you can select.
How a Massachusetts Independent Agent Can Help
When you're searching for the perfect coverage in Massachusetts, there is a lot to consider. You'll have numerous policy options, and it can be confusing to know what's best for your business. Liability insurance is one policy you don't want to miss.
Fortunately, an independent insurance agent has access to multiple carriers so that you get the best options out there. They compare pricing and coverage for you at no additional cost. Connect with a local expert on TrustedChoice.com to get started today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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