Other Types of Insurance
PRODUCT LI UCT LIABILITY INSURANCE
If your company manufactures and distributes any type of product, you probably already have this or need to add it. Product liability insurance will protect your company against any type of financial loss that stems from a defective product that causes harm to a customer or client. For example, product liability insurance for a company that makes pocket knives is much higher than that for a company that makes clothes.
PROFESSIONAL LIABILITY INSURANCE
This is also called errors and omissions insurance. It protects your company against errors, malpractice, or negligence in the provision of services. This is mainly for professionals such as consultants, notaries, insurance agents, accountants, and tech providers. Medical malpractice insurance is an example of this type of insurance.
AUTO LIABILITY INSURANCE
This insurance is for company claims from business-related accidents that happen in company cars, trucks, or any vehicle. It can also cover vehicles that are just used for work. You can get umbrella coverage from most companies as well. This means you can get all the different types of insurance you want and need under one policy.
Companies can sometimes try to cut corners and save a few
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