Why do you need liability insurance?

User Avatar

Wiki User

2011-08-15 04:52:27

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

2011-08-15 04:52:27
This answer is:
User Avatar
Study guides


21 cards

If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

See all cards
506 Reviews

Add your answer:

Earn +20 pts
Q: Why do you need liability insurance?
Write your answer...
Still have questions?
magnify glass
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

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.

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

What types of insurance do stunt people need?

personal insurance public liability

Do you need liability insurance on vacant lot?


When renting from a church do you need liability insurance?


People also asked