General Liability Insurance

General liability insurance is used to protect business when a piece of property is damaged or a third part is harmed. It covers incidents that may happen at your workplace. It will not cover everything, but it is the first insurance that you should look into acquiring for your business.

Here is what this usually covers:

  • An employee gets hurts: This type of general insurance will provide some protection for employees who are harmed at the workplace and in any offsite buildings that you own. Most plans will also protect employees who are harmed while visiting clients.
  • A client gets hurt: General liability insurance will protect you against legal claims when a client or other third party is harmed while visiting your workplace. It can also cover injuries that a third party sustains from one of your products.
  • Property is damaged: It will help you pay for anything that happens to your company’s property. After filing a claim, you will either be given a sum of money equivalent to the value of your lost goods or replacements.
  • Data is lost: This type of coverage is important if your company keeps sensitive client information, such as social security numbers. General Liability Insurance will protect you against any liability costs that occur after a data breach.
  • Personal Injury: This will also protect you if you choose to go to court after being slandered. Your insurance company should be able to help you pay for court costs and an attorney.

Not every insurance company provides the same insurance plans. Here are some things you need to ask your insurance company before choosing a plan:

  • How much coverage do I have? Small businesses do not need as much insurance as large businesses. However, do not make the mistake of not having enough insurance.
  • What type of incidents are covered? Depending on your location, what type of business you own, and how much you are willing to spend, not everything may be covered under your plan.
  • How much will it cost? You do not want to be surprised if your insurance bill suddenly costs more than you thought. Write down all of the costs involved with your insurance, including any deductibles and premiums and keep this information.

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