What Does General Liability Insurance Cover?

No mater how well you run your business, accidents happen and things sometimes go awry. You need to be prepared for the unexpected. One way to do that is to purchase a strong general liability insurance policy. The coverage offers protection in several types of situations your company could face.

Situations the Policy Covers

General liability insurance covers several types of situations that range from medical situations to legal costs. Most commonly, they cover property damage or injuries related to accidents, such as slip-and-fall situations. The policy may also cover defamation situations, copyright infringement, and reputational harm you cause by speaking publicly about another business. The policy also covers attorney fees and court costs related to any legal action taken against your business.

Choosing the Right Policy

While general liability coverage is very similar from agency to agency, it’s still important to note the differences and choose the best policy for you. Most states and industries have a minimum coverage requirement, but if your business risk is higher, you’ll want a larger policy. Be sure to read the policy in its entirety to be sure it meets your needs and there are no hidden expenses. Once insured, analyze your policy once a year to see if it still meets your needs or if you should make adjustments.

When choosing an insurance agency, look for one that has experience providing coverage in your industry. Verify the agency is licensed and has a good reputation within the community as well. Doing so will give you peace of mind.