If you’re starting a business you are going to need general liability insurance. If you are new to the business insurance world you may wonder what general liability insurance is. What does it cover? How much insurance do you need? What types of things does it protect? How much is it going to cost? You have a lot of questions and a good insurance agency will have the answers. It can be tempting to ignore the fact that you need insurance, but don’t. If you’re starting a business, get insured.
What Is General Liability?
Commercial General Business Liability insurance:
Protects your business assets/obligations: If someone were to get hurt on your property, or if you or one of your employees were to injury someone or damage a client’s property while performing your business duties, General Business Liability insurance would help cover that client’s medical costs and property damages so your business finances and assets remain untouched.
Helps cover legal defense costs: If you were to be sued for the above reasons, General Liability insurance would help cover the cost of your legal defense and also the cost of any award or settlement if the suing party should win.
Can protect against liability as a tenant: If you rent office space or your business premises rather than own, and if you damaged the property via fire, or any other covered loss, this insurance will help defray the costs associated with repairs, etc.
Can protect against false claims: If someone were to accuse you of false advertising, libel, slander, or copyright infringement, this insurance would cover costs associated with defending your business against those claims.
How Much Insurance Do You Need?
How much insurance coverage you will need depends on the type of business and the perceived risks associated with that type of business. An electrician or building contractor will require more coverage than a free-lance writer or web designer. What state your business is located in may be another factor due to the fact that some states award more in damages to personal injury plaintiffs than others.
Contact Jeff Van Matre Insurance Agency to find out more and stay tuned for the next installment of Starting A Business? Get Insured.
ABOUT YOUR DALLAS, TX INSURANCE COMPANY:
With over 20 years of experience in the insurance industry, the Jeff Van Matre Insurance Agency can help you choose the right coverage plan to protect your personal and business assets. To learn more, or to get a free quote, call our Carrollton, TX office today at 972-492-8500.