Do I Really Need Business General Liability Insurance On Top Of Everything Else?
As a small business owner, it’s natural to wonder if you really need general liability insurance when your coverage already seems so comprehensive. But the answer to that question is an emphatic “Yes!”
Without general liability insurance, you run the risk of losing everything, including, in some cases, not just your business but your home, too. Other types of insurance, such as property and business insurance, are limited in coverage to the physical damage to the buildings that house your business, the buildings you’re renting to others and the personal property of others in your care or custody, as well as business costs incurred during a suspension of operation.
Here are few more specific reasons why small business liability insurance is critical:
Layer of protection
General liability insurance protects you as an individual. While the policy covers your company, it also shields you personally from lawsuits related to personal injury, such as false advertising or copyright infringement. Likewise, general liability insurance will also protect you in instances where someone injures himself on your property, or as a result of a product that your business sold him.
May guard your family
Anyone who instigates a lawsuit against your company cannot seek damages or restitution from your family as long as your business is covered with adequate general liability insurance. You should have your agent review your personal policies as well.
You policy will also pay all court-related costs, including attorney’s fees and any judgments that have been rendered against your company up to the limits indicated in your policy.
Accidents will happen. No operation is foolproof. The prudent move, protect yourself before there is a problem. General liability insurance is can included in a business owner’s policy (BOP). Call Peter Green Insurance to ensure that you’re covered at 714-258-2800 or 888-725-7776.