A 2020 Quick Guide in General Liability Insurance

​Many people can be confused about what General Liability Insurance is. General liability insurance, also known as business liability insurance, helps cover claims that the business caused, like injury or property damage. It is essential in every industry.

Overview
General Liability insurance can help the insured cover medical expenses and legal fees from injuries and property damages for which the business is responsible.

How Can General Liability Insurance Help Business Owners
General Liability covers expensive costs claims that occur during business operations. Having coverage can avoid using out of pocket money, especially if it is just starting and does not have the resources to cover the costs. This insurance policy can help the insured cover claims that the business caused:

• Third-party body injuries 
  If a customer got hurt from slipping or falling inside a business property, the customer could sue the business for an unsafe environment. Having general liability insurance includes bodily injury liability coverage and can help pay medical bills.
• Third-party property damages
  In case the business operations are at a client’s property, the business is at risk of causing property damages. This coverage can cover the repair or replacement costs in case of damages to someone else’s property or belongings. 
• Advertising injury
  All businesses are at risk of copyright infringement. In case the company uses a copyrighted logo without permission, the owner of the logo can sue the business. 
• Reputation
  If an argument between the employee and the client emerges, the latter can sue the business for libel or slander. General liability insurance helps in covering the legal costs to defend the company.

LIMITATIONS 
However, be mindful that general liability insurance does not cover every claim. Examples of the limitations and their additional insurance:

• Work-related injuries - worker’s compensation insurance
• Damage to own business property - commercial property insurance
• Business’ professional services mistakes - professional liability insurance

Importance of General Liability Insurance
Claims against the business are not unusual and can be costly. Without this policy, companies have to use out of money pockets and lead to bankruptcy and put the owner out of business. Every business is distinct from one another, but that does not change the fact that everyone can benefit from having general liability insurance. 

At American Eagle Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (225) 667-7377 or Click Here to request a free quote.