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the coverage limits on various policies, any deductibles or co-payments that may be required and how the insurance company pays claims. Liability Insurance - Liability coverage protects your business against lawsuits arising from personal damage or injury that has occurred on your premises. Your homeowners' or renters' insurance may not protect you against liability to business visitors. A general liability policy covers damages that your business is ordered to pay to an individual who is injured on your property. If you sell manufactured or assembled goods, you should consider taking product liability insurance. This type of insurance protects you in situations when the product you sold creates or is perceived to have created harm or damage to the buyer. On the other hand, if you're a professional, such as a doctor, lawyer, architect, computer consultant or realtor you should also consider carrying professional liability insurance. In addition to the type of insurance discussed above, you should also consider commercial auto insurance if you use a vehicle