As a business owner, getting full insurance coverage should be a priority to keep your enterprise protected. Have you thought about liability coverage as part of your business insurance in Austin? Here are three ways that professional liability coverage protects your business.
Errors and omissions insurance can protect you from customer claims alleging negative outcomes of miscalculations, recommendations, or faulty product. A client could claim that your error made them lose money or tarnished their reputation. Even if you are not in the wrong, you will need to defend your business from the claim, and pay for legal representation to do so.
Failure to Deliver on Services Promised
If an employee overlooks a detail or makes a promise to a customer that is impossible to keep, liability business insurance in Austin can keep your business from being taken to the cleaners. The average for lawsuits in these cases averages over $60,000 dollars. Your liability coverage can take care of that huge expense for your business.
If a client claims your work is not up to standards and results in a loss, liability insurance can cover the legal costs and any damages awarded to the client.
An insurance agent experienced in liability can craft a policy that meets the particular needs of your business. Addressing liability coverage for your business will make sure that you are prepared for the unexpected.