Commercial general liability insurance might help protect you as well as your business against many common lawsuits. General liability insurance may be the most popular option for many businesses due to its broad spectrum of coverage. Similar to other liability insurance, commercial general liability coverage protects your business from many common claims that many small businesses can face.

What does general liability insurance drive back?

Commercial liability coverage protects your organization against four basic claim categories:

? Bodily injury: In case a customer or other party is suffering from bodily injury caused directly or indirectly by your business, this insurance can help cover medical expenses along with other damages brought about by case.

? Property damage: If you or your employees damage someone’s property (e.g., cars, homes, land, along with other property of relative value), you may be held responsible for the price. General liability insurance supplies the type and the amount of coverage you need.

? Personal injury: Accidental injury encompasses slander, libel, lost wages, mental anguish, and other claims that do not are categorized as bodily injury.

? Advertising injury: This is similar to personal injury in that it really is brought about by slander, libel, or copyright infringement, but advertising injury involves another business rather than an individual.

Why do you want general liability coverage?

General liability insurance protects your business. general liability insurance Even if you think your organization is too small or you are certain you won’t cause the damages or injury in the above list, you should be covered. In that litigious environment, you need to be protected against frivolous lawsuits.

Some people see an opportunity to take advantage of unsuspecting small enterprises who will not be covered against a claim. For example, suppose you run a commercial cleaning business and you also do most of your work after business hours when the office buildings are empty. You may consider yourself at low-risk and don’t see the necessity of having commercial general liability insurance because you rarely, if ever, interact with your customers. But imagine if one of your employees damages expensive computer equipment by accidentally spilling cleaning fluid onto it? You would be liable for the damages.

Remember that you can never be completely in charge of every situation. Accidents happen. You can find always unforeseen problems that could result in a lawsuit, including bogus claims. Your commercial general liability insurance might help cover those claims. Unless you have many assets (and even if you do), your organization could possibly be completely destroyed by one claim against your organization.

Just how much commercial liability coverage does your organization need?

The amount of coverage will depend on your specific needs. You may only need a small amount of commercial liability insurance to cover the cost of potential claims brought against you. You should keep in mind that the cost of claims today has increased and people are seeking larger amounts for damages, making the right amount of coverage critical to protect your business interests. Consult with a trusted insurance broker who has your very best interests in mind and can provide recommendations for acquiring the perfect coverage for the business.