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Liability insurance covers legal fees and settlement costs in case of lawsuits. Businesses may need several types. Many, or all, of the products featured on this page are from our advertising partners ...

Laura Longero is an award-winning writer and editor who has more than 15 years of editorial experience. Fox Money is a personal finance hub featuring content generated by Credible Operations, Inc.

Liability coverage helps you pay for another driver’s vehicle repairs and medical expenses if you are at-fault in an accident. This type of coverage can pay out for both property damage and bodily ...