There is no single answer to this question; however, no business can afford to be unprepared for a lawsuit. Liability insurance protects your business assets when the business is sued for something the business did (or failed to do) that contributed to injury or property damage to someone else. Liability coverage extends not only to paying damages but also to the attorneys' fees and other costs involved in defending against the lawsuit-whether valid or not. The limits of liability that you carry will depend upon the assets that you need to protect, and what type of protection your business structure offers you (for example, a corporation versus a sole proprietor). Discussing your particular situation with your insurance professional will help you identify limits.
Written by Clark-Mortenson Insurance
Clark-Mortenson Insurance has been providing insurance solutions to individuals and businesses since 1877. Our goal is to be the "agency of choice" by offering the highest quality service through our committed, professional staff. Clark-Mortenson sets ourselves apart from our competition by offering our clients a team of trusted advisors who work together to offer the resources, information and experience that they need to ensure their physical and financial protection.
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