General liability insurance is one of the most common types of commercial coverage. Here is everything you need to know about this insurance option.

What Is General Liability Insurance?

Big businesses aren’t the only ones that face lawsuits. Small businesses, alone, become responsible for $100 billion worth of litigations each year.

Business owners should see liability costs as a matter of when, not a matter of if. That’s why no matter the size of your business, it’s important to have general liability insurance.

What is general liability insurance? What kind of business coverage does it provide?

Read on to find out everything you need to know.

What Does General Liability Insurance Cover?

General liability insurance is a specific type of insurance plan you can take out as a business owner. You pay a monthly premium and your insurance has your back when certain lawsuits arise. What, exactly, are the lawsuits that are covered by general liability insurance?

Personal Injury and Property Damage Claims

A customer has a slip and fall accident in your store. An employee breaks a window while providing a service at a client’s home. Both of these types of situations expose your business to the possibility of a claim or lawsuit–and both are covered by general liability insurance.

Advertising Injury and Reputational Harm

It’s important to realize that what you say as a business owner matters. Other individuals, groups, or companies can take you to court if what you say causes tangible harm to their reputation or income. Whether it’s in an advertisement or in an interview, your words matter–and general liability insurance has you covered.

Copyright Infringement 

As a business owner, you’re probably familiar with the concept of copyright infringement. Ultimately, you can’t use things like copyrighted products or intellectual property to benefit your business. The problem is that as much as you try to avoid copyright infringement, mistakes can happen–and that’s why you need general liability insurance.

Is General Liability Insurance Enough?

Every business should purchase a general liability insurance policy. The question is, will that be enough? 

The answer is no. As you can see, you get a decent amount of business coverage from general liability insurance. However, it leaves you exposed on a lot of fronts, from coverage for natural disasters to basic employee coverage.

How can you make sure that all of your bases are covered? Take some time to talk to the experts about comprehensive and specialty business insurance. In the end, your insurance policy should be as unique as your business is.

Protect Your Business With Business Insurance

If you are starting a new business, you want to make sure that you are protected from unexpected financial blows. General liability insurance is a good business tool for protecting your business. However, you will want to talk to the professionals to find out exactly what kind of coverage your business needs.

If you’re here, it’s probably because you like to take charge and tackle problems on your own. What are some of the ways that you can boost your business with your own two hands? Take a look at our business and marketing section for tips, guides, and news. 

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