As a lawyer, the type of insurance policy that you should consider for your small business to protect yourself from lawsuits is called general liability insurance. This type of insurance policy covers claims arising from bodily injury, property damage, personal injury, and advertising injury.
It's worth noting that general liability insurance has certain exclusions, such as intentional acts, criminal acts, and contractual obligations. Therefore, it's important to carefully review the terms and conditions of your policy to determine what is and isn't covered.
In addition to general liability insurance, it may be wise to consider other types of insurance policies. For instance, if your business has employees, you may be required by law to carry workers' compensation insurance. If your business involves professional services, you may want to consider professional liability insurance to protect against claims of negligence or errors and omissions.
Finally, it's always a good idea to consult with a licensed insurance broker to discuss your specific needs and risks. They can provide guidance on what types of insurance policies are best suited for your business and can help you find the right coverage at a competitive price.
In summary, general liability insurance is the primary type of insurance policy that you should consider to protect your small business from potential lawsuits. However, it's important to carefully review the terms and conditions of your policy and to consult with an insurance broker to determine what additional insurance policies, if any, may be necessary for your business.
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