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A limited liability company, or LLC, is a business that protects its owners, members and itself from certain legal liabilities. Think of it as a mergerDose forming an LLC Protect Your Business? between a partnership and a corporation; it possesses a pass-through tax status like a partnership, yet offers limited-liability protection like a corporation (meaning the members are not personally responsible for the actions or debts of the company). LLCs also protect the business against personal lawsuits.

Though LLCs protect members from wrongdoings of the company, they cannot protect you from personal liability for your own wrongdoing. Your assets will be at risk if you’re deemed liable. An LLC’s protection is limited, however, and not as comprehensive as a liability insurance policy. So does forming an LLC protect you from a lawsuit? The simple answer is not always.

Unfortunately, accidents happen. Even cautious people who follow safety protocols can fall victim to a business liability claim. A doctor can prescribe a wrong medicine that causes an adverse reaction. A CEO can take clients sailing to discuss business, leading to a person falling overboard and drowning. A supervisor can ask a worker to disable a safety mechanism in order to increase production, resulting in a worker getting injured. In similar situations, an LLC status may not protect the business owner from legal responsibility.

The best way to ensure coverage is to secure an appropriate insurance portfolio, which may include business liability, personal liability and umbrella insurance. An umbrella policy is designed to provide extra coverage for exceedingly high expenses.

Contact Jason D. Brown, your Certified Insurance Counselor, with over 20 years experience to evaluate your needs. He will shop and compare quotes for you, making it very simple to find the right policy for your business.

Call us to add liability coverage to your business portfolio at 740-998-5544 or via email at jasonb@dsbinsurance.com.

Donahue-Stangle-Brown Insurance Agency
 is an independent insurance agency that represents several insurance companies here in Ohio since 1948.  Let us do your insurance shopping for you with our multiple insurance companies we represent.  We offer a wide range from auto insurance,home insurancebusiness insurancebusiness auto insurancelife insurance and farm insurance.  Please contact one of our professionals today at 740-998-5544 in Frankfort or 937-981-2272 in Greenfield.  You are also welcome to contact us via EMAIL.


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