Three Risk Areas General Liability Commercial Insurance Can Address

Three Risk Areas General Liability Commercial Insurance Can Address

As any business owner knows, running a business often introduces unpredictable risks. One common threat is third party claims against your business for incidents that cause property damage or bodily injury. Preventing these claims can be almost impossible, but fortunately, a strong general liability commercial insurance policy can protect against all of the following risks.

  1. Flawed Products or Services – Your business may be liable if property damage occurs or if people suffer injuries because of your completed products or services. In these situations, general liability insurance can help cover legal costs and any damages that are awarded.
  2. Indirect Liability – If you work with contractors or subcontractors, you could face liability for property damage or injuries that result from negligence on the part of those contractors. Your inability to control the actions of your contractors does not provide a defense against this liability, and neither does ignorance. Consequently, having proper insurance coverage in place is crucial.
  3. Premises Liability – When property damage or injuries occur at your place of business, your business can be held liable. This is especially true if you failed to prevent injuries by maintaining your property well or advising third parties of potential risks. Your responsibilities as a property owner vary based on state laws, but in most areas, a strong insurance policy is the best way to guard against this threat.

Protecting Your Interests

Although protecting your business with the most economical general liability commercial insurance policy available can seem tempting, don’t underestimate the steep costs that usually come with a claim. In the long run, ensuring that your business is adequately protected is a much more affordable solution than going without needed coverage.

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