Definition: Small Business Liability Insurance is a policy that covers businesses for losses, damages or injuries caused by small claims involving the business. This coverage typically includes policies designed to protect small businesses from liabilities resulting from accidents or incidents which are not considered "big business" in the eyes of liability insurance laws. A small business is one that operates less than $50 million worth of assets (this can include personal property, inventory and other tangible personal property). It must meet certain minimum requirements for obtaining coverage. This policy provides a means to protect the financial health and security of your business from the risks associated with small claims.
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