It’s easy to figure out what commercial property insurance covers but commercial liability insurance is a bit hazier. In general, this liability insurance makes sure a business is financially protected from any sorts of accidents that occur at the business’ property or by a product from the business.

Liability claims and lawsuits aren’t common, but when they hit, they hit hard. These sorts of lawsuits try to gauge the businesses and the costs can add up when it comes to legal fees and eventual payouts of settlements. That’s why the high annual premiums might seem really expensive, going anywhere from $750 to $2,000 but it more than makes up for what you’d spend in a lawsuit that could damage or even ruin your business.

Lawsuits can come up even with this insurance, so it’s best to have it so it can be there for you anytime one pops up randomly. Even if the lawsuit doesn’t have much merit, that doesn’t take away the types of costs from legal fees.

Depending on your business you might have different needs for liability insurance. Any business that deals with lots of heavy machinery, say construction, will obviously need more coverage than a plain office. It helps to talk to an agent to narrow down what specific coverage you need and figure out potential liabilities at your work place.

Don’t risk your business to an accident. Call Fleming & Riles Insurance at (229) 436-2408 for more information on Albany business insurance.