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Common Questions About Liability Insurance

November 1, 2019

Many small business owners don’t realize the risks associated with owning a business until they are hit with an expensive lawsuit. Claims can cost a business thousands or even millions of dollars, and oftentimes businesses don’t have the financial means to pay these hefty expenses on their own. This is where liability insurance comes in.

liability insurance for small business

Have you been thinking about getting liability insurance for your business? Here are a few of the most frequently asked questions to help you determine if your business needs it:

What is Liability Insurance? 

Liability insurance protects a business/ business owners from having to pay out of pocket in the event of a formal lawsuit. A liability insurance policy helps pay for related expenses associated with a lawsuit such as legal fees, settlement costs, and medical expenses.

Why Do I Need Liability Insurance?

Owning a business, regardless of the size, has some risks. To put it simply, you need this insurance to protect your business from the unexpected. Even though it’s not required by law, it’s something that every business should have to protect them from having to pay out of pocket for any expenses related to a claim.

What Does General Liability Insurance Cover?

General liability insurance protects your business from many types of liability claims such as:

  • Bodily injury- claims that your business caused bodily harm.
  • Advertising injury- copyright infringement claims.
  • Property damage- claims that state your business caused damaged to the property you are renting.
  • Reputation Harm- claims of wrongful discharge, libel, slander, and more.

How Much Does General Liability Insurance Cost?

The answer to this depends on a wide range of factors. Some of the factors that will determine how much you pay for a liability insurance policy are:

  • Type of business
  • Location of business
  • Years of experience
  • Claims history

How Do I Get Started?

If you’re looking for liability insurance in Maryland, American Heritage Insurance Agency understands the importance of having the right amount of coverage in the areas you need it most. We are dedicated to finding you the best liability insurance policy for your business. Call or contact us today to get your business protected!

What Our Clients Say...

Over and above the time, effort and saved dollars that you put into earning our business – your careful attention to detail in getting our coverage right is what mattered the most. Thank you for educating me about the differences in coverage and for reallocating our insurance dollars to minimize our exposure while maximizing our policies.

- Eric L, President of Jeffrey Press, Inc.

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Frederick County: Frederick (21701, 20702, 21703, 21709), New Market (21774) , Mount Airy (21771), Urbana (21704), Ijamsville (21754), Walkersville (21793), Libertytown (21762), Damascus (20872), and more.

Howard County: Clarksville (21029), Columbia (21044), Cooksville (21723), Dorsey (21075), Elkridge (21075), Ellicott City (21043), Fulton (20759), Glenelg (21737), Glenwood (21738), Granite (21163), Hanover (21076), Highland (20777), Jessup (20794), Lisbon (21765), Marriottsville (21104), North Laurel (20723), West Friendship (21794), Woodbine (21797), Woodstock (21163), and more.

Montgomery County: Olney (20832), Damascus (20872), Laytonsville (20882), Silver Spring (20910), Clarksburg (20871), Gaithersburg (20878), Germantown (20876), Bethesda (20816), Chevy Chase (20815), and more.

Baltimore County: Arbutus (21227), Catonsville (21228, 21250), Cockeysville (21030, 21031, 21065), Dundalk (21222), Edgemere (21219), Essex (21221), Garrison (21055), Lansdowne (21227), Lochearn (21207), Lutherville (21093), Middle River (21220), Milford Mill (21244), Overlea (21236), Owings Mills (21117), Parkville (21234), Park Heights (21215), Pikesville (21208), Randallstown (21133), Reisterstown (21136), Rosedale (21237), Timonium (21093), Towson (21204), White Marsh (21162), Woodlawn (21207), and more.

Carroll County: Eldersburg (21784), Finksburg (21048), Hampstead (21074), Manchester (21102), Marriottsville (21104), Taneytown (21787), Union Bridge (21791), Westminster (21157, 21158), Mount Airy (21771), New Windsor (21776), Sykesville (21784), Woodbine (21797), Taneytown (21787), and more.

We also serve the rest of Maryland and the United States.