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Choosing Business Liability Coverage

Anything can happen in the course of a business day. Most of the time, everything seems smooth and wide. General liability insurance is designed to help business owners deal with those consequences.

What does general liability insurance cover? This type of insurance will pay for obligations related to events that might occur on your property, or off-property events caused by your employees. The policy covers legal defense in the event of a lawsuit, monetary awards, medical expenses to injured parties, punitive damages, or damages to property.

If you rent your office space, general liability insurance can protect you against liability in the event that you or an employee cause a fire or other damaging event.

Your insurance policy can also protect you against claims of libel, slander, copyright infringement, or false (misleading) advertising.

Do you need general liability insurance? Even businesses that operate under very low risk thresholds could conceivably face litigation at some point. In nearly every circumstance, liability insurance is far more affordable than fighting a case in court. It can be included as part of a Business Owner’s Policy, which bundles property insurance and liability insurance into one policy.

How do you choose a general liability insurance plan? Consider the type of work you perform, with regard to the inherent risk present. Then consider the potential payout related to a lawsuit or other event. A building contractor or tree cutting service probably needs a larger policy than a graphic design company, just to give an example. Your coverage will come with limits, and you could still be liable for damages that exceeds those limits.

For more information on how to protect yourself and your company, give us a call. We can help you locate an affordable, comprehensive general liability insurance policy that suits your business needs.