General liability is the type of insurance that can provide you protection in case of non-employee injuries both in your property and someone else’s. It also covers slander and libel. Typically, general liability protects you against common lawsuits that may occur in your business every day.
So, if someone sues your business and your general liability covers the lawsuit, your insurance will provide financial assistance for legal fees and settlements.
Do I Need General Liability Insurance?
The state does not require you to have general liability insurance, but it can be risky to run your business without it. The costs of certain liability claims can reach an amount that is high enough to put you out of business.
Also, most large companies that work with contractors and vendors ask for general liability coverage as well as proof of insurance. So, if your business plans on doing contract work with other large companies, be prepared to have this coverage. The hiring company wants to know if you (as their contractor) are able to survive a liability claim.
Get general liability insurance if you:
If you are a contractor, it is ideal to buy general liability instead of getting a full BOP. While you are not covering payroll or other expenses that need to run a business, you can still face liability risks because of your job.
General Liability Typically Covers:
It is a must to know what you can do to protect your business. Buy general liability insurance now.
At Insurance Advisor Network, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (918) 528-6226 or Click Here to request a free quote.