WHY YOU NEED GENERAL LIABILITY INSURANCE

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Unfortunately, we live in a litigious society. If you think your company is unlikely to face a claim for thousands, if not millions, of dollars , think again. Even if you won your case, you'd lose time, money, and resources that would be better spent on growing the business.

General Liability Insurance to the rescue. This coverage (also known as Commercial General Business Liability) will protect your company's assets and pay for obligations - medical costs, for example - incurred if someone gets hurt on your property or if you or your employees cause property damage or injury. In case you're sued, the policy will cover legal defense costs, as well as any settlement (non-monetary losses by the plaintiff, compensatory damages, and/or punitive damages).

A General Liability policy can also protect you against liability as a tenant if you damage rented property by fire or other covered loss. Finally, it can also cover claims of false or misleading advertising, including libel, slander, and copyright infringement.

You can buy this coverage on its own, or include it in a Business Owner's Policy (BOP), which bundles Liability and Property coverage into a single package.

The amount of coverage you need depends on the type of business you're in and the perceived risk associated with it. For example, a building contractor will need more coverage than a web designer or consultant. Your business location also comes into play; some states tend to award higher damages than others to plaintiffs in personal injury cases.

To learn more, just give us a call.

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