General Liability Insurance

General liability insurance, also known as commercial general liability insurance, may be a critical investment every business should consider. These policies can provide financial protection against various potential risks and incidents that businesses may encounter in their day-to-day operations.

What Does General Liability Insurance Cover?

General liability insurance can provide financial assistance after many common incidents affecting third parties, such as the following:

• Bodily injuries—If a customer or third party gets injured on your business premises, this policy can cover medical expenses and legal costs.
• Property damage—If your business operations cause damage to someone else’s property, this insurance can cover the repair or replacement costs.
• Personal and advertising injuries—This coverage may include financial aid in response to claims of slander, libel, copyright infringement and false advertising.

Why Is General Liability Insurance Important?

General liability insurance can provide critical coverage needed by many businesses. Specifically, an adequate policy may offer the following benefits:

• Financial protection—General liability insurance can protect your business from potentially devastating financial losses resulting from lawsuits.
• Credibility—Having adequate insurance can show your clients and customers that you’re a safe bet and have the means to compensate them should something go wrong.
• Additional prospects—Many commercial leases and contracts require businesses to carry general liability insurance.

Who Is an Insured on a General Liability Insurance Policy?

A general liability insurance policy may help cover the following individuals if they are involved in an incident with a third-party claimant:

• The policyholder—This is the individual or the entity named in the policy declarations
  
• Employees—The policy can cover employees while they are performing their job duties.
• Subcontractors—In some cases, general liability coverage may extend to contract workers hired by the insured.

We’re Here to Help

General liability insurance may be fundamental to a robust business risk management strategy. It can provide versatile coverage against common risks, potentially ensuring that your business can survive and recover after unexpected challenges.

Contact the knowledgeable team at Maranatha Tax & Insurance Agency today to learn more or to get a tailored general liability insurance quote.