The Different Types of Liability Insurance

The Different Types of Liability Insurance

Liability insurance comes in different forms, each tailored to specific risks. Here’s a breakdown of the most common types:

• General Liability Insurance: Protects against injuries or property damage that occur due to your business operations. Example: A customer slips and falls at your shop.
• Professional Liability Insurance: Also known as Errors & Omissions (E&O), this covers negligence or mistakes in professional services. Example: A consultant gives bad advice that causes financial loss.
• Product Liability Insurance: Offers protection if a product you manufacture or sell causes injury or damage. Example: A faulty toy leads to an injury.

Each type of liability insurance is critical depending on the nature of your business. Contact Smyth Business Solutions for your Free Consultation.