General Liability Insurance, which is also known as Commercial General Liability Insurance or business liability insurance would provide protection to your business against claims associated with property damage or bodily injuries. It is completely natural for you to come across such claims when you are managing your business. If you don’t have a General Liability Insurance policy to cover up those claims, you will have to end up paying for those expenses out of your pocket. Hence, every business owner out there should think about obtaining a General Liability Insurance policy, regardless of the nature of the business that is being managed.
What expenses would your General Liability Insurance policy cover?
The General Liability Insurance policy you obtain will be helpful to you when covering up numerous expenses related to your business. The main objective of it is to provide protection against the claims associated with bodily injuries and property damage.
For example, assume that a customer who comes into your commercial property slip s and falls. Then you will be able to use the General Liability Insurance policy to cover up the medical expenses of your customers. If one of your employees caused damages to a property owned by a customer, you will be able to get that claimed from the General Liability Insurance as well.
Even if your business encounters a lawsuit, you will be able to get all the legal expenses covered up with General Liability Insurance. On top of that, you can cover up the cost associated with settlements or judgments that arise from a client’s lawsuit.
What is covered with General Liability Insurance?
Here are the main areas of coverage that a General Liability Insurance policy will be able to offer to you. Then you can have a strong understanding of what is protected by it.
- Reputation damage caused by libel, slander, wrongful eviction, and malicious prosecution will be covered from the General Liability Insurance policy.
- Property damage and bodily injury that is caused by the business.
- Advertising injuries that are caused by copyright infringement
- Damages caused to a property that you have rented due to explosion, lightning, fire, or any other reason
- Medical expenses associated with clients or customers who encounter injuries while they are at your commercial property.
No matter whether you own a small business or a large-scale enterprise, it is essential for you to think about obtaining General Liability Insurance. Then you will be able to keep peace of mind as you are covered from unforeseen expenses.