The Benefits of General Liability Insurance Coverage
General liability insurance coverage is an essential investment for business owners who wish to protect all their interests. As a business owner, recognizing your company’s risks and those you can’t prevent protects your business’s financial position. When you understand how liability coverage can help, you can better choose the right policy.
The Types of Situations General Liability Coverage Can Assist
Liability coverage benefits business owners in many ways. Slip and fall injuries, damage to a customer’s home, and even class action lawsuits are all applicable to liability policies. No matter what type of liability risk your business might face, you can find coverage.
Why You Should Consider General Liability Insurance
Liability coverage plays a vital role in every company’s portfolio for financial protection. If you are liable in a covered situation, your policy will pay the legal fees and any penalties or fines associated with the claim.
Bodily Injury and Property Damage
Suppose a customer, client, or another member of the public suffers an injury due to a non-professional negligent act by your company. In that case, general liability insurance will cover the claim costs. The same applies to damage caused to someone’s property, such as if a driver for your company causes damage to a customer’s lawn.
Personal Injuries and Infringements
Claims resulting from copyright infringement, libel, slander, and idea theft fall under this policy line. In addition, you may find coverage for invasion of privacy, malicious prosecution, false arrest, or even wrongful eviction.
Medical Coverage
General liability often includes medical coverage as well. This line is subject to the defined policy payout limits but covers any medical costs for injuries to people up to those limits. This coverage includes ambulance fees, surgical expenses, hospital bills, and even nursing and physical therapy.
How General Liability Insurance Can Benefit Your Business Specifically
As a business owner, recognizing how liability coverage can help is an excellent place to start. In fact, for many businesses, it’s essential to consider the additional line items and specialty coverage options for protecting your interests.
Liquor Liability
An additional rider for your general liability policy designed to protect your business against liquor liability claims can help. When you hire service staff, you risk someone accidentally overserving or a bartender serving an underage customer. Liquor liability helps cover the financial burden of these claims.
Agricultural Liability
As an industrial or agricultural business, liability risks include pollution and environmental damage. An additional rider helps your company cover the financial aspects of agricultural damage claims.
Sufficient liability coverage is essential when you build an insurance package for your business. General liability, also referred to as an umbrella policy, helps you cover the broad liability issues associated with your company and its practices. Specialty riders help address the specific liability risks that your business may face based on the industry you operate in. Alcohol service, agricultural damage, professional practice mistakes, and even officer and executive coverage can help keep your company’s financial integrity safe.
About Byrnes Agency
At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.
If you’ve enjoyed what you’ve read here and would like to know when we’ve published a new blog post, please “like” us on our Facebook page, and share this with your Connecticut neighbors.
Phone: (860) 774-8549
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm
Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm