How General Liability Insurance Protects Your Business

General liability insurance is the cornerstone of most commercial policies. If you’re a business that works with customers, vendors or other third parties, this coverage should be considered essential.

What Does It Cover?

General liability insurance is designed to cover your business after third-party claims of injury or damage. It does not cover employees; they would need to be covered by workers’ compensation insurance.

General liability policies typically include the following coverage:

• Physical damage coverage—This can help pay for damage caused to third-party property resulting from your operations.
• Bodily injury coverage—This can help cover injuries to third parties for which your business is responsible, such as a customer falling in an entryway.
• Product liability coverage—Often included in general liability policies, this coverage can help pay for losses caused by the products your business produces.
• Personal injury coverage—This can help pay for lawsuits related to claims of libel, slander or copyright infringement, among others.

Your Stowe Insurance representative can further explain all available coverage options.

Is It Worth the Cost?

Imagine if a customer falls in your lobby, breaks their arm and decides to sue. In such a case, the medical expenses alone could quickly add up to thousands of dollars, not to mention related legal defense costs and settlements. Without general liability insurance, your business could be on the hook for all those bills. For small businesses, a single claim might interrupt all operations until the matter is settled and even put the organization out of business.

Considering the potential significance of third-party claims, general liability insurance may be one of the wisest investments a business makes. Don’t leave your organization’s future to chance. Secure a suitable general liability insurance policy today; such coverage might even be required by a commercial lease.

Contact Stowe Insurance today to discuss your circumstances with no obligation. Our experts can recommend coverage that’s right for your unique business.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.