Liability Risks to Avoid in Your Small Business

In New York, as in many other parts of the country, owning your own business is a dream come true. The dream, however, is under constant threat from different risks that could arise at any time. A major consideration for small businesses is liability. Liability risks include the threat of legal and financial consequences as a result of improper practices in the business. As a result, liability coverage in your business insurance in Valatie, NY is incredibly important to consider. As you find the right insurance for your business, keep in mind the liability risks for small businesses.


Employment Practices

Generally, these include complaints from staff or potential hires, such as workplace discrimination, harassment, or wrongful termination. Although there may not be any physical injury, your small business can still face steep legal fees and compensation costs. A great way to safeguard your business from facing these costs alone is to secure employment practices liability insurance.


Onsite Injury

No matter how safe you attempt to make your workplace, accidents happen. Guests can slip and fall, employees can injure themselves on machinery, and team members can suffer from repetitive strain injury that has been building up for years. General liability and workers’ compensation insurance can help your business overcome these costs.


Cyber Liability

This is a fairly new risk, but certainly one worth assessing. Your business is liable for all risks associated with the use of electronic data and the internet. If a cyber breach or leak does occur, you may face costs relating to business interruption, extortion, government fines, and damage repair to your client base. Luckily, cyber liability insurance can relieve you of these expenses.


Fortunately, liability coverage is designed to safeguard your business. At Kneller Agency, we work with you to find reliable and suitable insurance to protect against liability risks. Visit us today in New York to get started on your tailored coverage.

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