Why Does Your Business Need General Liability Insurance?
You’ve probably heard about the lawsuits involving fast food customers getting burned by hot coffee or pub patrons getting injured in a bar fight. The reason these cases came to fruition is because businesses are legally liable for providing a safe place for patrons of all types; a place that also serves safe food and/or creates safe products.
The idea of a liability issue may seem unlikely, but the truth is that these types of lawsuits are becoming more and more common in today’s litigious society. So what can you do to protect your business from the costly expenses of a lawsuit? Purchasing commercial general liability insurance can protect your business from a variety of events that may result in third party injury or property damage.
Specifically, this form of coverage can help protect against the resulting expenses if your business is held liability for injuring a third party or damaging their property. To clarify, general liability insurance does not prevent a customer from filing a lawsuit against your business. However, it can cover legal fees, medical expenses, awarded settlements and—in some cases—PR services to repair your company image following such lawsuits. Without general liability coverage, these costs could grow high enough to cause significant financial concerns, even if a lawsuit winds up being frivolous.
Are you ready to learn more about protecting both the safety of your customers (as well as other third parties) and the interests of your business? Consult your independent insurance agent to learn more about general liability insurance today.