General liability claims are more common than many business owners realize, and they can be costly. General liability insurance can provide essential financial coverage for claims that your business caused third-party harm. Nearly every business can benefit from this type of coverage.
What Does General Liability Insurance Do?
A general liability insurance policy can help protect your business from paying out of pocket for expenses arising from third-party damages for which your operations are responsible, such as the following:
- Bodily injuries
- Personal injuries
- Advertising injuries
- Property damage
If your business is held responsible for any of the aforementioned injuries or damages, your general liability coverage can provide financial protection by helping to pay for the following expenses:
- Legal fees, settlements and judgments
- Medical bills
- Lost wages
- Property repairs or replacements
Policies may vary. Review your insurance agreement carefully or ask an insurance agent for more information.
Is General Liability Insurance Required?
General liability insurance isn’t typically required by law; however, there may be some instances where it’s necessary to do business with clients or customers or to meet licensing requirements. If you rent your business property, your landlord may also require general liability insurance to help pay for any damages to their property.
Who Needs General Liability Insurance?
Any business that works closely with customers or clients should consider general liability coverage. It can provide financial protection from risks and lawsuits arising from everyday business operations. Even home-based businesses can benefit from a general liability insurance policy.
Getting General Liability Insurance
Don’t let your company go without coverage. Contact Dorsey and Associates LLC in Philadelphia, Pennsylvania, to learn more about general liability and to get a free quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.