There is a common myth among business owners that you can protect your business from legal action is simply shutting it down.Shutting down your business isn’t an effective strategy, since courts generally do not care whether a business is still operational when making a ruling. Regardless of whether you’re in business or not, you are still liable for any damages that were related to your business.

That’s why business owners need to get small business property and general liability insurance to protect themselves against any business-related claims.Make sure your business is protected with the right insurance solution.Protect your business from legal action and these risks: 1.

  Completed Operations Risk Running a small business carries some unique operational risks.Let’s take the example of a skilled trades contracting business.Say a plumbing company installs pipes that leaked, resulting in water damage to a property.

This could be extremely expensive depending on the size of the property and the extent of damage.In the event of lawsuit, if the plumbing company does not have general liability insurance, and if the losses are big, it may have to declare bankruptcy and close its business.However, they would still be liable for the damages even after their business has closed.

In such a case, commercial general liability insurance could protect your small business.2.  Product Exposure Risk This type of risk is commonly faced by wholesalers dealing with imported products.

Let’s say, for example, a product with faulty wiring results in a fire.This could cause significant damage to a property or cause bodily injury.Depending on the extent of the damage and where it occurred, the wholesaler could be sued by the customer.

With our small business solution, you could be covered for any of the damages associated with the product.3.  Premises Risk Retail and shop owners who have customers coming on their property on a regular basis are always exposed to premises risk.

The most common occurrence is a slip and fall accident where a client or customer sustains an injury and wants to pursue legal action.There have been many cases where the injured party asks for a large sum based on not only medical costs, but also lost wages and future earnings.In such a case, our small business solution could cover the settlement amount.

Protecting your business Facing a law suit is a stressful, frustrating and expensive process that can cost you your business if you don’t have proper coverage.Lawyers’ fees are an expensive part of the process, and they can sometimes cost even more than the settlement amount.Protect your business from legal action with TruShield’s small business insurance policy.

It can  pay the settlement amount up to the limit of your policy, but also cover your legal fees over and above your policy limit.This allows you to focus on what’s most important: keeping your business operational.