Why do I need Business Liability Insurance?

If you run an operation with a business name, whether as a sole proprietor, limited liability company, or corporation, you are a target for a lawsuit. Business owners often equate the entity's value with the physical assets, such as tools, equipment, buildings, or inventory. Those things have a known and fixed cost, and if you wanted to, you could forgo insuring them if you have the cash to replace them. What you don’t see is what could hurt your business the most.