Running a small business can take a lot of work, and many business owners don’t consider what they’d do in the event of legal trouble. If you own a small business, you can still be sued as an individual. There are plenty of areas you could be left exposed, and your current insurance coverage may not cover all the ways you could be liable. Directors and officers insurance can often protect you and your company by covering costs if a party brings up a lawsuit, and this coverage can be a great way of protecting personal assets for you and others working high up in your company. If you think you need another look at your coverage, consult a trusted insurance agency for a directors insurance quote.
There are plenty of reasons you could be held legally accountable for your company. There may be cases of fraud or you could even be breaking workplace laws you weren’t aware of. Determining your risk could help you decide the coverage you need, and small businesses usually have lower risk factors in comparison to larger corporations. You can buy coverage that just covers the directors and officers in the event of a lawsuit, or you can opt to cover the company as well. Consulting the right insurance agency can help you attain the coverage you need with a directors insurance quote before you decide.