Running a business is difficult, even more so when the business owner has to worry about injuries to clients or customers. General Liability Insurance helps to alleviate those worries by protecting the business against lawsuits regarding injury or property loss. This form of accident insurance covers bodily injury to anyone, other than employees, who may be on the business’s property, trespassers included. It also covers property loss, injury due to advertising claims, and forms of personal injury to others, such as: slander, libel, or copyright infringement.
General Liability Insurance is important for most businesses. Any business that has clients, customers, the general public on the premises, or sells a product, opens itself up to the risk of physical injury to those individuals. Even if a business is not open to others, it is still at risk of liability due to personal injury claims. Companies that market their products or services, use social media, or have an online presence should carry this coverage. In some cases, such as renting office space or through contractual obligations, businesses are required to carry this coverage.
For a claim of injury or property damage under this insurance policy, the insurer would be responsible for researching the claim. They would then cover the cost of legal fees and any damages awarded to the plaintiff within the coverage limit. Extended coverage could be added to the policy to include no-fault medical payments in the case of minor injuries to avoid litigation.
Carrying this type of accident insurance adds a layer of financial security to the business. It reduces the risk of crippling the company due to litigation from accidents or other forms of injury. With the insurer carrying this burden, it allows the business owner the peace of mind to focus on running the company.
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