Usually, this insurance pays money to the injured party instead of you being sued for damages. In some jurisdictions, this type of insurance is required. Even if not required, it is usually considered a wise insurance purchase. For more information on this topic see your local SBDC . A general insurance agent can be a valuable advisor to a small business.
Risk management is an on-going concern to a business owner.
Having a knowledgeable specialist available to answer questions and provide advice is a good idea. For more information on this topic see your local SBDC . By shopping and comparing prices . Insurance costs are not uniform. As with most other things you can buy, it is possible to get a bargain and it is possible to get ripped off.