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If you own a small business, you’ve probably put your heart and soul into building and growing it. Doesn’t it make sense to protect all of that hard work? General liability coverage is a basic insurance policy that shields your business from common risks. If you work directly with clients and customers, this insurance policy will keep your company financially stable in the event of a lawsuit. It’s best to invest in general liability coverage immediately after starting your business, so that you’re never left vulnerable.

What Is Included In General Liability Coverage?

General liability coverage includes common risks such as:

– Third-party bodily injury: If someone is injured on your property, you could be sued and held responsible for medical bills. General liability covers medical bills, attorney’s fees, court-ordered judgments, and settlements.

– Third-party property damage: From time to time your nonprofit may handle a client or visitor’s property. If an item is damaged or lost, your organization could be held liable. General liability coverage pays for repair or replacement of damaged items, and legal costs from a property damage lawsuit.

– Advertising injuries: Accidental advertising injuries including defamation, libel, and copyright or brand infringement, are covered by general liability.

General liability insurance does not cover employee injuries, auto accidents, punitive damages, workmanship, or professional mistakes.

Who Needs General Liability Coverage?

Your business is exposed to many risks as you deal with the public, and you don’t want to be caught off guard by unpredictable circumstances. Lawsuits can cost your business financially and ruin your reputation and good standing in the community. General liability insurance protects against accident-related lawsuits, and allows you to qualify for leases and contracts. No matter your industry, general liability coverage is a must for any small business.

CTG Insurance: Personalized Insurance Solutions

With 40+ years of proven experience, CTG Insurance delivers personalized solutions tailored to your unique needs, risks, and budget. Speak to one of our experienced advisors to find the right insurance policy for you.

About the Author: Steven Elkins
Steven Elkins is the vice president of CTG Insurance.

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