What Small Businesses Need to Know About General Liability Insurance

Owning a small business means juggling many responsibilities, including preparing for potential losses. Accidents such as a customer slipping in your store or a delivery mishap causing damage can cost you big time. Without general liability insurance, you could face hefty bills and legal headaches.

Why Does My Small Business Need General Liability Insurance?

General liability insurance may cover small businesses against claims of bodily injury, property damage and personal injury. These claims can arise from everyday business operations and can be financially devastating if not properly managed. Having this insurance helps manage these risks and keeps your business running smoothly.

What Does General Liability Insurance Cover?

Your general liability insurance may provide the following essential protections:

• Bodily injury liability may cover medical expenses and legal fees if a third party suffers an injury on your business premises.
• Property damage liability may provide compensation for damage caused to someone else’s property by your business operations.
• Personal and advertising injury coverage may provide financial assistance following claims of libel, slander and copyright infringement related to your advertising.
• Medical payments coverage may pay minor medical expenses of individuals injured on your business premises, regardless of fault.
• Legal defense costs coverage may cover legal fees, court costs and related expenses if your business is faced with a lawsuit.

How Much Does a Policy Cost?

How much your business will pay for general liability insurance depends on multiple factors, including the size of your business, the industry you operate in and your location. Insurance companies also often consider revenue, workforce size, claims history and coverage limits to calculate your premium.

Secure a Policy Today

Prevent potential financial losses with Hall-Green Agency‘s general liability insurance. Contact us today to learn how we can help you save money while managing risks effectively.

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.