Liability Insurance Definition

Liability insurance is an insurance policy which can be purchased by business owners as protection against expenses due to personal injury or property damage.

Liability Extended Definition
Liability insurance policies can offer protection for business owners against payments as the result of property damage, accident, injury, malpractice, or negligence. Policies may cover medical costs, as well as legal defense and settlement costs that the insured individual would be found liable for if taken to court.

Related Article
9 Types of Business Insurance | Patriot Software

Last Updated By

Jenna Hutkowski | Apr 12, 2023