Sanjeev Devabhakthuni, Professional Liability Practice Area co-chair, was interviewed for the Insurance.com article “Limited Liability Company Insurance: What Is It and What Does It Cover?” The article covered the following topics:
- What type of insurance do LLCs need?
- What does LLC insurance cover?
- How does LLC insurance work?
- Do you need business insurance for an LLC?
- Factors that affect LLC insurance cost
- How much does LLC business insurance cost?
- LLC business insurance companies
- LLC insurance requirements
- How to get business insurance for an LLC
- Frequently Asked Questions
About how LLC insurance works, Sanjeev said:
It’s important for small businesses to have liability insurance with at least $1,000,000 of per-occurrence limits for personal injuries and property damage – and potentially higher limits and/or umbrella/excess liability coverage, depending on the nature of the business. Without the correct insurance in place, a business risks exposure to a lawsuit and damages that could lead to an exposure of liability to business assets, or even bankruptcy.
Click here to read the full article.