Best Answer
What Is Liability InsuranceLiability insurance is imperative for any business owner. If you own a car you have auto insurance; if you own a home you have homeowners insurance and any business owner needs liability insurance. This insurance is beneficial in so many ways. It covers business personal property. If you were to have a fire what would replace all of your equipment, computers, data, files etc? Business Owners Policies include this coverage. Many people who work from their home think that their homeowners policy will cover all of the fine print! Very few carriers will cover in-home business property and/or liability. The liability aspect is the most important. You are making daily decisions that affect other people, a mistake could result in a costly lawsuit. Can you afford a lawyer to defend your business? Have you ever made a mistake on a job, contract or recommendation? Your business is liable for all of those, even honest mistakes. IF you are a sole proprietor all of your personal assets are at risk, home, autos, vacation properties etc. Contact your Insurance agent for a comprehensive review. Make sure that you are insured to all of your assets. If you are going to endure a loss make the insurance company pay for it. (If you work out your home there are some excellent alternatives that start around $250 annually.
User Avatar

Wiki User

โˆ™ 2011-08-15 04:52:27
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why do you need liability insurance?
Write your answer...
Related questions

Do you need a car to get liability insurance?

Automobile Liability insurance, YES. Liability insurance, NO. There are many kinds of liability insurance.

What can you do if you have liability who was hit by someone with liability insurance?

If you have liability for an accident, you will need to contact your insurance company. If you do not have liability insurance, you may need to pay for the accident out of pocket.

What type and amount of liability insurance does a two person catering company need?

You need A General Liability Insurance Policy

What kind of liability insurance does a private fitness instructor need?

Your need Professional Liability

What kind of insurance do you need for a demolition business?

You need General Liability Insurance

You are starting a residential cleaning business Should you get general liability insurance or professional liability insurance?

You need a commercial general liability policy.

What type of insurance does an elevator maintenance company need?

You Need General Liability Insurance.

What type of insurance do you need to operate and own a barber shop?

There are many types of insurance you will need to own and operate your barbershop. The most important insurance will be liability insurance. Liability insurance will protect you in the event someone is injured on your property.

Where can you find out more information about insurance liability?

Hiscox is a good start to find out about insurance liability. Hiscox can provide small business owners and brokers with the information they need to meet their insurance liability needs.

Can you buy liability insurance without a drivers license in Texas?

It depends on what type of liability insurance you need. Contact an agent in your area.

What kind of liability insurance does a nurse staffing agency need?

A commerical liability policy.

Insurance for mobile mechanic repairs?

You need commercial General Liability Insurance

Do you need event liability insurance for a big wedding?

You do not need event liability insurance for a big wedding. However, if the event is outside, then you may want to consider it. You should take out the insurance if it will give you comfort.

What sort of liability insurance is needed if you operate tanning beds in your salonDo I have to worry about lawsuits?

You will need liability insurance and property insurance. Most insurance companies customize your liability insurance. If your insurance covers everything you will not have to worry about lawsuits just make sure there are no loop holes in your policy.

Purchase General Liability Insurance?

form_title=Purchase General Liability Insurance form_header=Protect yourself and your business from accidents with general liability insurance. Describe the business and/or property needing insurance:=_ Have you had this product in the past?= () Yes () No How soon do you need this product?=_

Do you need liability insurance on vacant lot?


When renting from a church do you need liability insurance?


Business Liability Insurance ?

form_title=Business Liability Insurance form_header=Protect your business with the right business liability insurance for your needs. What is the annual revenue of your company?=_ Does your company currently have insurance coverage?= () Yes () No What type of business liability insurance do you need? (Check all that apply)= [] General Liability [] Workers Compensation [] Business Owners Policy (BOP) [] Property [] Professional Liability [] Business Travel [] Business Automobile

Where to get professional liability insurance?

Professional liability insurance is something that people who are doctors or special physicians need. You can sign up for this at professional insurance companies like State Farm.

Do I need professional liability insurance as a massage therapist?

It is mandatory for a massage therapist to have liability insurance. If you do not currently have it you should definitely contact your insurance company if your current office does not provide it.

Can a homeowner buy a liability only policy?

Your insurance agent will advise you of the bare minimum insurance you absolutely need, but you can be sure "liability" will be part of it, yes.

Does an engineer need errors and omissions insurance to work?

Yes. They require public liability insurance and malpractice insurance.

Will your insurance pay if the accident is your fault and you only have uninsured motorist insurance?

If all you have is uninsured motorists then no it will not pay. you need liability insurance to pay for damaged caused to another. Liability is what your supposed to have.

Information about Property and liability insurance?

Insurance definitions found on the web can explain property and liability insurance more in detail. However the type of business you have will tell you what type of coverage you will need.

How much personal liability insurance do Georgia car insurance laws require?

You will need the basic liability insurance. This means that you will be covered for the other person's car if you are in fact responsible for the accident.

Study guides

Create a Study Guide