Business Setup & Legalbeginner
Liability Insurance
Definition
Cover that protects your business if someone claims you caused them harm, injury or financial loss, paying legal costs and compensation.
Why it matters
Liability insurance can save your business from a single claim wiping you out, and many clients or venues will not work with you without it.
Example
A customer trips at your pop-up shop and sues, and your liability insurance covers the legal fees and any payout.
Related terms
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