As a business owner, you know that accidents can happen anytime. That’s why it’s essential to have the right insurance in place to protect your business from liability.
General liability insurance is one of the essential types of coverage for businesses. It can help protect your business from lawsuits stemming from accidents or injuries on your property or business operations.
When it comes to general liability insurance, your business is only covered if it causes harm to someone else. Neither your business’s property nor your employees’ injuries are covered.
Among the claims covered by this type of commercial general liability insurance are those for the following:
Injuries resulting from your company’s operations. If a customer is injured on your property, you must cover their medical bills. For example, general liability insurance may pay for your legal fees if a customer sues you for bodily harm.
General liability coverage includes claims for bodily harm, such as:
- A customer injures their ankle after tripping over a stray box in your store.
- A customer is burned by a hot cup of coffee spilled by your waiter.
Damage to your business’s property, such as:
- At a client’s house, a worker accidentally damaged the computer.
- A falling outdoor sign hit your customer’s car.
- A lawnmower thrown by your landscaper shatters customers’ windows.
When your company’s advertising contains copyright violations or when you harm another person’s reputation through your actions. When an employee uses artwork without permission in an advertisement, for example. Alternatively, if you criticize your rivals in a newspaper interview.
- Libel and slander are not usually covered by general liability insurance.
Product liability claims, such as:
- Customers who become ill after using your makeup.
- A family that sues you because your child’s toy gave their child a concussion.
- Customers who claim that a book purchased from your online bookstore was defective.
As you can see, there are many instances where general liability insurance can help protect your business. If you’re ever sued or held liable for damages, this insurance can help cover the costs.
Tips for Purchasing Business Insurance
If you’re looking for general liability insurance in Dallas, TX, there are a few things to keep in mind. Here are a few tips to help you get the coverage you need at a price you can afford.
- Know What You Need
The first step in getting the right general liability insurance is to know what you need. Every business is different, so it’s essential to tailor your coverage to your specific needs.
Some businesses will need more coverage than others. For example, companies that host events or have a lot of foot traffic will need more coverage than those that don’t.
- Shop Around
Once you know what you need, it’s time to start shopping around. There are a lot of insurance companies out there, so it’s crucial to compare rates and coverage options.
The best way to do this is to get quotes from multiple insurers. This will allow you to compare rates and coverage options side-by-side.
- Understand the Policy
Once you’ve found an insurer that you’re comfortable with, it’s essential to understand the policy. Make sure you read the fine print and understand what’s covered and what’s not.
Some policies will have exclusions, so it’s essential to be aware of them. This way, you can ensure you’re getting the coverage you need.
- Review the Policy Annually
Your business needs will change over time, so reviewing your policy annually is essential. This way, you can make sure you’re still getting the coverage you need at a price you can afford.
If your business has grown or changed, let your insurer know. They may be able to adjust your coverage to meet your new needs.
- Get Help from an Agent
Don’t be afraid to contact an insurance agent if you’re having trouble locating the appropriate policy or comprehending the coverage if you already have one. They can assist you in finding the most suitable policy for your company and answer any questions that you may have.
You don’t need to have difficulty locating the appropriate general liability insurance in Dallas, Texas. If you keep the advice above in mind, you will be able to identify the coverage you require at a cost within your financial means.