Contact James Madison Insurance for a Local Insurance Agency offering Insurance Products and Services Including Automobile Insurance, Business Insurance, Home Insurance, and Life Insurance in Franklin County, Ohio.

In a company, any negative scenario can occur, so business owners can never ensure that their business will never be the subject of a lawsuit. If or when this occurs, it could mean the end of their businesses and the end of their ability to earn a living. This is the best reason to contact us at James Madison Insurance. We provide business insurance policies for businesses in Franklin County, Ohio.

Types of Business Insurance Policies:

General Liability Insurance

​A business can be held liable for any bodily injuries, property damage, personal injuries or advertising injuries that result from the operations or products of a business. For example, this applies to the clients’ property that may be damaged while the employees are repairing the electrical wiring. If the company has general liability insurance, it will cover the costs of repairing the property.

​In addition to that, a customer can get injured using the company’s products. General liability insurance covers the medical bills. In this case, the customer could sue the business, but the general liability insurance will pay the legal expenses. Because either scenario may place a business at risk, general liability insurance is a must for every business owner.

Professional Liability Insurance

​Professional liability insurance is a type of errors and omissions insurance. It covers the mistakes professionals make, any omissions and negligence that occur while they are providing their services. This insurance is designated for real estate brokers, accountants, attorneys and consultants. For example, if a consultant advises a client in a money matter but the client suffers a financial loss because of the advice, the client may hold the professional accountable for the losses.

​Professional liability insurance covers the legal defense, attorneys’ fees, court costs and the fees of expert witnesses. If the client prevails in court or the professional agrees to a settlement, the professional liability insurance will help cover the monetary award. This prevents the professional from having to close their doors during this difficult time.

​Workers’ Compensation

Workers’ Compensation is an insurance policy that covers employees if they are hurt or injured on the job. This insurance pays the employees’ expenses for rehabilitation and medical bills. If they perish at work, their families will receive a death benefit. Every state requires that a business owner purchases this type of insurance. The failure to provide this coverage can result in significant and costly penalties. For example, the professional may be required to pay these claims on their own, and they may have to pay fines. The worst part is that they may be taken to trial, and they could be sentenced to a prison term. These repercussions are much too steep to risk, so purchasing a Workers’ Compensation policy is a much better option for business owners.

​To ensure that you can remain in business if a client accuses you of negligence or of causing their injuries, contact us at James Madison Insurance, and we will make sure that your business is more than adequately insured, call us for a free quote today!