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What Does General Liability Insurance Cover?

man-looking-at-liability-insuranceUnderstanding General Liability Insurance

You want nothing but the best for your business and you might be an expert at what you do. However, if you aren’t in the insurance industry, that may be something you definitely aren’t an expert on. You know you need insurance coverage, like general liability insurance, but what does it really cover and how can you use it? Here are a few things that you can expect to protect against with general liability coverage. Having it helps you move forward with peace of mind that your business is safe.

Product Liability Issues

If you manufacture, sell, or distribute products of any kind, you can be sued over harm the products might cause. Whether you are at fault or not, being taken to court over liability issues can be costly and this insurance can pay for the legal expenses associated with it.

Third-Party Property Damage

If customers come onto your property and something is damaged, like if an employee spills water on a customer’s phone, the liability insurance can cover the expenses with replacing the damaged item.

Copyright, Slander, And Libel Problems

You’ll want to check out your copyright items before you use them, but you never know what can happen and you can still get sued over infringement. You never know when someone is going to take you to court for libel or slander as well, whether you are at fault or not. With social media being a big part of any market, it’s hard to say how people are going to take certain comments at times. To protect a business from these sorts of lawsuit costs, general liability is important.

General Liability Insurance Doesn’t Cover Everything

You will want other types of insurance for more specific issues since general liability is just that—general. It doesn’t cover everything you may need. It won’t cover, for example, professional errors. If you make a mistake, miss a deadline, or mix up some numbers, you may lose revenue and be taken to court for some reason or another. General liability also doesn’t cover employee injuries. You’ll need workers’ compensation insurance policies for that. Consider commercial property insurance if you want to cover repairs and replacements to your business’ property because general liability won’t help you there either. And if you are concerned about wrongful termination, discrimination, or other such lawsuits in the future, you’ll need employment practices liability insurance.

Get The General Liability Insurance You Need—And More

It’s important to have general liability insurance, but it won’t cover all of your possible needs. You should understand how far it will take you and what else you might need to cover your bases. Your business is important to you and in order to grow and become a bigger part of the industry, you can’t let an expensive lawsuit take you down. Get the general liability insurance and others that you need when you talk to Nickerson Insurance Services, Inc. Ask questions about the policies you are considering and get professional advice on how much you need of each item.

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