3 Questions About General Liability Insurance for Businesses
Category : General Liability Insurance
While general liability insurance for businesses is not required by law, purchasing it can be one of the wisest investments a company makes. It is often only after experiencing a financial loss that the true value of such a policy is fully recognized. Answering three basic questions can prove beneficial when considering general liability insurance.
1. What Is Covered?
General liability insurance for businesses provides protection against claims arising from the daily routine of doing business. Typically, this includes the following:
- Personal injury
- Damage to property
- Advertising grievances
- Product damage
- Rental property damage
2. Who Needs It?
Virtually every business, large or small, should consider a general liability policy. It can provide protection from lawsuits brought by customers, vendors and even the public. For brick and mortar businesses, it’s especially useful because it provides coverage against physical losses.
3. How Much Coverage Do You Need?
Equally important to having general liability coverage is having the right amount. Two primary factors to consider when identifying the needs of your business include the size of the establishment and its loss history.
Investing in the right general liability policy can go a long way in protecting the future of any commercial operation. Talk with an authorized insurance agent to determine the amount of protection required to meet your company’s myriad needs.