3 Signs It’s Time to Buy Business Liability Insurance

Business Liability Insurance

As you grow your business, your policies will need to increase.

Small business owners know that insurance protects their business, employees, as well as offering peace of mind that your company is protected. A company holding adequate (and enough) insurance plays a vital component in your business’s success or failure. Insufficient coverage can lead to everything from operational headaches to foreclosure.

As a business owner, if you have reached certain milestones, it could be time to get a business liability insurance policy or an updated one in place!

Sign No. 1: You lease a commercial space.

While you may love your new office space, you may not have realized that any space open to the public is also an open door for risks. From customers slipping on uneven flooring to accidentally dropping client’s phone, you may be liable for certain accidents. General liability insurance can help pay for damages, such as medical bills and repairs.

Sign No. 2: You launch a website. 

A website is an ideal way to get your business into the social media network and promote far and wide. However, if you post a copyrighted image on your blog, you could be sued for copyright infringement. If a user thinks your website falsely advertises your product or service, they could sue you as well. General liability insurance can step in to cover these lawsuits so that your business is protected.

Sign No. 3: You hire more employees. 

You need employees to run your business, but your business takes on a lot of responsibility when you hire a team. You’re liable for their on-the-job injuries. Workers’ compensation insurance steps in to help with medical bills, replacement wages, and disability and death benefits.

One thing that employers shouldn’t have to worry about is reliable protection for their company. To obtain this, contact the industry experts at North American Advantage Insurance Services to secure your business insurance needs in Dallas, Texas!