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Commercial General Liability Insurance Protects Your Small Business

Female Delivery Driver Sitting In Van Using Digital TabletAs all business owners know, anything can happen in the course of a business day. Since you’re responsible for the ramifications of anything that happens on your property, or in the field when workers are on a job, you could be subject to a number of sticky situations and court ordered settlements can be overwhelming for a small or even medium-sized business. In the worst case scenario, one accident or oversight can leave you with years of debt or even cost you your business.

Commercial general liability insurance is designed to cover a number of risks that can occur during the course of operating a business.

  • Medical costs incurred by anyone who is injured on your property (an employee, customer, or anyone else)
  • Property damages caused by you or one or your employees. This could cover anything from a damaged car in your parking lot, to damage in a customer’s home during a service call.
  • Legal costs and court fees if you are ever sued
  • Punitive damages and/or non-monetary loss
  • Claims such as false advertising, copyright infringement, etc.
  • Damages to a rented commercial property

Unfortunately, we live in a highly litigious society. Just ask the many company owners who have been sued over hot coffee! Considering how common lawsuits occur these days, odds are high that you will be sued at least once during your business career. Commercial general liability insurance protects you and your business from these risks.

Your liability policy will include a maximum amount of coverage, that your insurance company will pay out in the event of a claim. How do you know how much coverage to purchase? This will depend largely on your business and property coverage for a lower rate.

The insurance needs of a business owner are complicated, and amount of coverage that will best protect your livelihood.