Commercial Liability

Even Minor Mishaps Can Lead to Big Lawsuits

As a business owner, it’s important to have liability insurance to protect your assets. Taking these proactive steps can lower the potential cost of liability insurance claims for you and your business:

Set high standards for your service and product deliverables.
Keep all company records complete and up to date.
Identify hazards on your property that could be potential liability issues and address them.

How Much Coverage Does Your Business Need?

Several factors contribute to the amount of liability coverage your business needs, and we’ll guide you through that assessment. Two key factors include:

Risks associated with the type of business. For example, a dynamite factory carries a much greater risk of being sued for personal injury than a small retailer by nature of the products sold.
The potential severity of a loss. For example, a business that provides health care services has a greater possibility of having a significant liability claim compared to a flower shop.

At McGriff, we have access to risk profiles and coverage amounts for businesses like yours. We’ll help you understand where liability insurance, workers’ compensation, and commercial property insurance overlap so that you don’t purchase too much of any one type.