The coverage range of a General Business Liability policy typically varies depending on the type of Small Business you operate. If you need a particular coverage for risks that are distinctly in your field, choose Professional Liability Insurance. It’s the insurance that most Small Business with professional services gets for protection from lawsuits due to negligence. In other words, causing harm because of being careless.
Negligence suits are pricey. General Business Liability Insurance won’t pay for the expenses you need to pay if you’re guilty of negligence. Therefore, you need Professional Liability Insurance if you own a medical, legal, real estate, or any professional service.
You need Business Property Liability Insurance if your Small Business owns any physical asset. Such as property, inventory, equipment, or furniture. Not to mention, business Property Liability Insurance is a protection for assets from robbery, fire, wind, water damage, or other risks.