Small Business Liability Insurance in Aberdeen and all of South Dakota

What is Small Business Liability?

You’ve invested all your efforts into growing your dream into a small business! But are you prepared with the resources you will need to fall back on in case something goes wrong? A small business liability policy from Insurance Plus can reimburse you for different types of loss, giving you the time and support you need to get back to normal business operations. This coverage is so important that over 90% of small business see it as a worthwhile investment even when they don't have a lot of cash to spare.

When you're choosing a policy, Insurance Plus, agents can ensure that the policy's limit is high enough to cover the risks that are unique to your industry. Even though your business may be small, it doesn't exclude you from large, costly claims! That is why it’s important to obtain the best coverage you can as soon as your company's growth permits.

Small Business Coverage

As explained by the Small Business Administration, there are three types of liability coverage that small businesses commonly need:

General Liability Insurance covers issues with negligence, injuries, and accidents. Its main emphasis is on helping with the costs of legal defense, as well as providing coverage if you lose your case.

Product Liability Insurance The primary purpose of this coverage is reimbursing you for claims that arise from injuries caused by a defective product. If you deal exclusively in digital products and services, this policy will not cover those—ask one of our agents about your options.

Professional Liability Insurance focuses on mistakes and negligence that may occur when you are providing products or services to your customers. If any of the advice you give them is wrong, they could sue for damages, and this policy will help to reimburse you.

Most companies can get by with these three types of small business liability insurance. However, you may need additional coverage if your operations are high-risk enough that a standard policy won't cover them. If you're unsure if a policy covers your operations, our agents would be happy to discuss the issue and make any changes that may be necessary.

Making Sure Your Business Can Get Coverage

Most small businesses can obtain liability insurance without any problems. The only common exceptions to this are companies that operate in industries that are particularly high-risk—for example, companies producing acids for industrial use may find it harder to get coverage. If you're worried that some aspect of your business will increase your premiums or make it more difficult to obtain coverage in the first place, call Insurance Plus today and ask for assistance.