Posted on May 19, 2014

When And Why Do I Need General Liability?

Plenty of business owners question the need for general liability insurance. Their businesses may be successful with no accidents or injuries on record so choosing to add another expense to the budget doesn?t always seem needed or required. But the fact remains that the only way to protect your company from significant financial loss is to transfer potential risks by purchasing general liability.

Determining whether general liability is needed is as simple as asking yourself whether you have the savings available and on hand should a customer or visitor to your business injure themselves. Do you have it in your budget to cover an employee damaging a client?s property during the course of business? What about a lawsuit for that same injury or property damage?

Most business owners today operate their companies on a tight budget. Even if they have the money accumulated for these issues, it doesn?t always make sense to take from all the hard work and resources of the company to pay for lawsuits that could result in large financial awards. Transferring this risk to an insurance company provides peace of mind to businesses so they can go about doing what they do best ? serving their customers and running the company ? without fear that they could face bankruptcy should an accident occur.

General liability coverage is needed by companies that make, sell and/or advertises a product or service. If a company deals with the general public, they need commercial liability. It is vital coverage that will pay for bodily injuries or property damage along with any legal defense fees should a business be sued. With the right amount of coverage in place, it will also pay for any awards or settlements by the court should your company be held financially responsible for an accident or injury.

Every business today no matter how big or small can protect themselves from claims of injury or damage with general liability insurance. Contact our agents today to learn more about adding this valuable coverage to your insurance protection program.

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