General liability is a type of insurance that covers for claims made against business entities for personal injury, advertising injury, and third party property damage. An excellent example of a situation where a general insurance policy might come to the rescue is when a customer comes to your business and accidentally slips and gets injured. Instead of settling the claim from your company or personal assets, get a general insurance policy for your business.
Here are some practical cases where a general liability policy for a business is needed most.
Third Party Body Injury
A person may sue you or your business if they are injured while on your business premises. As mentioned earlier, this could be a minor trip that resulted in a severe injury like breaking an arm. As much as it could be their fault, they might always press charges against you provided they can find something that links you with the accidents. The best way to handle such issues is by having a general liability policy.
Third Party Property Damage
There is always a real chance that your business or employees might cause some damage to a third party. This is especially true for services business like those involved in home improvement projects or landscaping. If by any chance there is property damage arising from your work, a general liability policy might help you cover the costs of the claim.
Advertisements are always sensitive, and it is easy to find yourself on the wrong side of the law. For instance, if you have some music playing on the background of your advertisement, you might be surprised to find the artist who owns the track file a claim against your business. In such cases, a general insurance policy offers your business a soft landing by covering the costs of the lawsuits.
There is always a real possibility of finding yourself facing charges from individuals or business who feel offended by your advertisement or something you said during an interview. If someone or business feels that your actions or worlds have directly affected their reputation, they can always make a claim. A general insurance policy might help you handle such claims.
General liability insurance is essential in many ways. As much as you might not see the need to get this policy, it is always a good idea to get this policy.