Why Business Owners Need General Liability Coverage
Even if you rarely have visitors to your workplace, you need general liability coverage. Today’s business owners manage a variety of liability risks, sometimes without even realizing it. For example, do you advertise, occasionally post a blog, or have an Instagram account or other social media presence? You may distribute a product in the U.S. or worldwide. Do you go into people’s homes or manage rental properties? Landlording brings with it a host of hazards. If any of these activities sound familiar, you have liability risks.
These situations, and a wide range of other business ventures, can leave your company exposed to liability. Companies can protect themselves with a general liability (GL) policy designed to cover business liabilities. Protecting your hard-earned assets is necessary in today’s world where litigation seems to be the go-to response to many types of disagreements.
What is General Liability Insurance?
Today’s businesses face a growing threat of claims on both the buildings they manage and from their business activities. A GL policy can offer three important protections should someone make a claim against you or your business.
- Investigation – A prompt and thorough investigation after an incident. Your insurer will review any allegations lodged against you, your managers, or your company.
- Defense – Priced an attorney lately, especially when allegations include defamation or trademark infringement? Your GL policy supplies a robust defense using highly skilled attorneys accustomed to defending these and other personal injury allegations.
- Indemnity – Judgments and court costs have risen sharply. Your GL policy can pay claims settlements, defense and court costs and judgments if you’re found liable in an incident
What Types of Claims Does the GL Policy Defend?
The GL is broad coverage that can defend against many different allegations.
Here is another liability policy you may want to strongly consider.
How it Works
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We’ll provide quotes from several well-respected insurers eager to do business with you.
Enjoy Peace of Mind
Once we complete your coverage, you’ll have the peace of mind you need to manage your business.
General Liability FAQs
What is general liability insurance?
General liability insurance is your first line of defense to protect you and your business assets against allegations that you acted negligently.
Is general liability insurance expensive?
Your premium will depend on the types of risks you customarily face in your “class” of business. For example, if you’re a sole proprietor real estate company, you face fewer risks than an apartment complex with swimming pools and beachfront exposure, for example. For smaller businesses, we can offer you GL coverage packaged with property insurance for a surprisingly low cost. Whether big or small, GL coverage provides your business with broad coverage against an increasingly litigious clientele.
Why do I need general liability coverage? I am just a sole proprietor and I do all my work over the internet.
In today’s world, people are increasingly lawsuit prone. Even a single statement you make about a competitor can result in a lawsuit. No business owner today should open the doors without liability insurance. It’s just too easy to become involved in litigation with the shotgun approach lawyers take when filing suit.