General Liability Insurance

What is General Liability Insurance?

This is one of the most fundamental insurance options your business can hold. It is a catch-all insurance that protects your business against claims from outside parties due to damages caused by your company. Lacking insurance, you may have to go to court and pay out of your own business expenses to cover the cost of a lawsuit. Businesses without this kind of insurance can fall prey to predatory practices and scammers attempting to suck your business try while you avoid having a trial.

What does it cover?

A general liability insurance policy will help cover the costs against several types of injury. If a third party is injured on your property and makes a claim against your business, general liability can help cover the cost of the claim for the accident. This also protects third party property damage. If one of your employees damages someone’s property, this insurance can help cover the cost of any claims made against the business and help settle the claim in or outside of court. Another unique coverage benefit is protection against third party reputation. This protects you in the event that another business claims your business harmed their reputation. Insurance also protects you against something called advertising injury. This is protection and coverage of claims made against your business because of your advertising practices, such as having too similar of advertisements to theirs.

Purchasing General Liability

Whether it is to cover costs of an injury, or even legal teams, witness fees, evidence, or settlement costs, your general liability is always there to cover your business. Commercial general liability is not required by law but almost every successful business has it in their back pocket in case of a rainy day. Purchasing this insurance does not mean you are planning to hurt customers or clients, it just prepares you in case an accident does occur. If you are interested in purchasing this insurance for your business, talk to an agent that can help you to sort out the proper financials and coverage options.