General Liability Insurance
As a business owner, you need insurance to protect yourself from liability and costly damages that can impact your bottom line. The more common insurance policies tend to cover owned or leased real estate, company cars, and any other material business property. While this coverage is important, you shouldn’t forgo business general liability insurance.
Liability insurance protects against a variety of general business risks. These risks don’t usually affect your material property and aren’t covered by standard commercial insurance policies.
Do You Need a General Liability Insurance Policy?
In most cases, you will need general liability insurance. Incidents are bound to occur, many of them unexpected, and liability insurance will provide the coverage you need when the time comes. For instance, if your business is subject to a liability claim or is sued in the future, a general liability policy will cover the costs of dealing with the claim.
General liability also protects you from damages and liability if an employee causes an accident that results in property damage or physical injury. Business general liability insurance includes the following types of coverages:
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General liability insurance will cover you if a supplier, customer, vendor, or anyone else sustains an injury while on your premises. If the injury occurs on a client’s premises and your business is somehow liable, the policy will also cover the injured person’s medical costs. Although most businesses will benefit from general liability insurance, construction and personal training businesses will benefit significantly due to the potential for risk in their specific industries.
If you or your employee causes damage to someone’s or another business’s property, a general liability insurance policy will cover the costs of repairing the damage. It will also cover damages to the premises you own or lease to conduct business activities. Property damage usually incurs hefty repair fees, and depending on the nature of your business, these costs could spell doom for your business.
General liability insurance is there to cover you if an unfortunate incident leaves you looking at expensive damages in the future.
Personal and Advertising Injury
This type of damage is probably the hardest to foresee. You may find yourself being sued for copyright or intellectual infringement or claims that your advertisements were libelous, slanderous, or they contained misleading information. General liability insurance protects you against liability arising from such claims, covering any legal expenses and allowing you to focus on your business.
General liability insurance is one thing you should have, even if you don’t even have to use it. This policy acts like a life jacket, ready to keep you steady and protected when an unforeseen risk rocks the boat. VOS Insurance is a full-service, independent insurance agency in the greater San Antonio-Austin area and Texas market with over 20 years of combined industry experience. We’d like to use that experience to help you assemble the most comprehensive general liability insurance policy.
Contact us today. We’d love to help!