Two Types of Liability Insurance For Your New Business

Connecticut insurance companies

Most individuals outside of the industry don’t know is that there are many different types of liability insurance that may be relevant to your business depending on your industry. As you search through Connecticut insurance companies, the agents you speak with will be able to discuss the benefits afforded by each. However, there are two that stand out from the crowd that you’ll most likely need to include in your new policy.

Commercial Liability

Commercial liability is the generic business liability insurance that comes to mind most often. For most new businesses, it’s the perfect coverage as it protects you against lawsuits from individuals who may have sustained an injury or had their property damaged by your business. If such a case arises, your policy will pay for the cost of attorneys as well as any fees and payments for which you are found liable.

Professional Liability

Professional liability, or errors and omissions insurance, is there for instances where a client believes an error or negligent act on your part led to them experiencing a loss. If the client chooses to file a lawsuit, your policy will cover for the fees and expenses similar to commercial liability. Medical practitioners are often required to carry professional liability insurance, but all business owners who offer professional services are advised to make it part of their policy.

You’ll find that Connecticut insurance companies offer various forms of liability insurance. Working with an experienced agent can ensure your policy includes the right ones that meet your industry’s requirements.