---
title: What types of insurance policies should a business have in order to protect themselves from common liability risks such as property damage, bodily injury, and lawsuits?
description: Learn about the essential insurance policies that every business needs to shield themselves from property damage, bodily injury, and lawsuits. Get expert advice from Legal FAQs on securing the right coverage for your business.
image: https://www.legalfaq.ai/hubfs/LegalFAQ/insurance-legal-faqs.jpg
---

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 April 16, 2023

# What types of insurance policies should a business have in order to protect themselves from common liability risks such as property damage, bodily injury, and lawsuits?

![Picture of Chris Battis](https://www.legalfaq.ai/hs-fs/hubfs/battis-mug.jpg?width=50&name=battis-mug.jpg) By  [Chris Battis](https://www.legalfaq.ai/faqs/author/chris-battis)  ·   1 minute read

As a lawyer, my advice to businesses would be to consider obtaining insurance policies to protect themselves from common liability risks such as property damage, bodily injury, and lawsuits.

Firstly, **general liability insurance** is crucial for businesses as it covers both property damage and bodily injury. This type of insurance protects businesses from accidents that may occur on their premises and any resulting lawsuits.

Additionally, businesses should consider obtaining **professional liability insurance**, also known as errors and omissions insurance, which protects their reputation and financial assets in the event of lawsuits based on alleged professional negligence.

**Product liability insurance**, which covers any harm caused by the products or services sold by the business, is also recommended, especially for businesses that manufacture, distribute, or sell physical products.

Moreover, **cyber liability insurance**, which covers damages resulting from data breaches, hacking, and other cyber-related crimes, is becoming increasingly important in the digital age.

It is important to note that insurance policies may have limitations and exclusions, and businesses should thoroughly review their coverage and policy terms to ensure that they are adequately protected. It is also recommended that businesses consult with a licensed insurance broker or attorney to review and analyze their insurance policies.

In some cases, businesses may need to take additional steps to further protect themselves from liability risks, including implementing safety measures, properly training employees, and maintaining accurate records.

Overall, obtaining the appropriate insurance policies and taking other necessary steps can help businesses protect themselves from common liability risks and minimize potential losses in the event of accidents or lawsuits.

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