Your business is one of the biggest investments you will ever make – professionally, financially and even personally. Whether it is a lifelong career or a small side gig, you want to protect that investment for your own sake as well as that of your family and employees that are counting on you. Commercial General Liability is insurance that offers the protection you need in the event of unforeseen circumstances.
Commercial General Liability has benefits that can pay for legal action that may arise over third party (someone other than you or your employees) incidents of being hurt or damage to property, legal action from the use of one of your products, false advertising or slander and also medical expenses for those that may be injured on your business property. Let’s look at these in more detail:
If someone sustains an injury on your business property, they can try to claim that you are responsible. For example, if a person fell due to an object left on the floor and was injured or something they own was damaged (laptop, ipad, etc.) and he or she sued your business to cover the costs, Commercial General Liability can cover lawyer’s fees, court costs, settlements or judgments.
Product liability is when a customer purchases one of your products and is injured or sustains some kind of damage or loss due to the item itself. Even if it may be the manufacturer’s fault, you may still be held liable. General Liability will usually cover any related expenses that occur from this situation.
In this age of technology and social media, it’s easier than ever to experience false advertising lawsuits, as well as copyright infringement, slander, libel and even invasion of privacy. General Liability will usually cover a lawsuit arising in this area.
Perhaps if someone was injured on your property and needed attention right away, whether it be a visit to a clinic, ambulance or hospital stay. General Liability can cover these expenses, which may help prevent further problems or legal action in the future.
Not everything is covered by this insurance. Examples of non-covered items would be: employee injuries, discrimination charges by an employee, fraud, professional mistakes or damage to your own property. The amount of covered situations is so large, though, that carrying this type of protection is well worth it.
If you desire to protect your business as much as possible, consider Commercial General Liability insurance. It is an investment that can provide the coverage you need a time when it is needed most, which also provides you with the peace of mind you and your family and employees deserve.