Protect Your Business
Running a business without insurance can be risky. A general liability policy is a must-have for any business owner, but there’s more to it than you might think! In this blog post, we’ll discuss what general liability insurance is and why it’s necessary; the types of coverage available; and tips on how best to protect your company from lawsuits, accidents, or other unforeseen circumstances.
– Do you need general liability insurance for your business?
Most small companies need this insurance, especially if you rent or own an office or commercial space. And many client contracts include requirements for general liability insurance.
Even if these don’t apply to you, small businesses that work directly with clients and customers usually benefit from commercial general liability insurance, also known as a CGL policy. This insurance policy can keep your company financially stable if you’re sued by a customer or competitor.
Because general liability insurance provides such important coverage, most small business owners buy the policy right after they start their business.
– What Is a General Liability Policy?
A general liability policy protects the insured against claims of bodily injury, property damage, and other losses arising from their “general” operations. In other words, it covers accidents that occur on company time.
– General Liability Coverage
There are two broad types of general liability coverage: bodily injury and property damage. Bodily injury coverage ensures that an injured party is compensated for injuries, including medical expenses, lost wages from time off work, or pain and suffering. Property damage protection reimburses the insured for repairing or replacing damaged items on premises owned.
How does commercial general liability insurance protect my business?
General liability insurance can help pay for legal fees from common third-party lawsuits. Here are a few common situations where general liability coverage protects home businesses, contractors, and small businesses.
| Home business | Contractor | Small business | |
|---|---|---|---|
| Liability protection | You may need general liability to pay for a lawsuit from a courier who slips on your icy doorstep while delivering documents. | A client may ask you to provide a certificate of insurance in case you damage their equipment. | You sign a commercial lease and your landlord requires general liability insurance. |
| Advertising injury protection | You launch a website and want protection against accidental copyright infringement. | You want protection in case someone involved with a project accuses you of libel or slander. | You launch your first advertising campaign and want protection against advertising injury lawsuits. |
How to get business insurance coverage today
Easily. Just give Classic Insurance Group a call at 850-332-5717 or fill out the form on this page!
