General Liability Insurance 101

​General liability insurance helps you protect your business while you are busy growing it. You can never predict every business outcome because there will always be unexpected and unforeseen bumps in the road. General liability coverage provides you and your business against claims of property damages or bodily injuries from third parties. 

What is General Liability Insurance?
General Liability insurance is an insurance policy that aids in preserving business assets. It covers and handles legal costs and settlements within your policy's limit and its covered claims. Accidents can still occur even though you run your business with care. 

One example could be when a customer falls because the floor is wet and sustains an injury. Another is if one of your products malfunctions and causes damages to your client's property. It also covers you when a competitor claims that one of your advertisements violates their copyright. 

These are just some examples of accidents and unpredicted events that could result in claims, complaints, and lawsuits against your business.  

General Liability Policies Provide: 

• Premises liability coverage: This offers financial protection that covers the bills for injuries that happen on your property. 
• Products liability coverage: This offers protection covering the bills for damages to other property or injuries to humans caused by your services or products. 

Do You Need General Liability Insurance? 
General Liability insurance is not usually required by law. However, this type of coverage will help in protecting you and your company from a potentially devastating cost if a lawsuit should arise. It could also give you that added peace of mind while you operate and manage your business. 

There could be circumstances that require you to present proof of General Liability insurance when you sign a new contract or apply for a license in a specific state. 

Specific customers or large organizations may require you to possess General Liability insurance before hiring you as one of their vendors. Lastly, property management company's may demand you to have this policy type before renting out space. 

Conclusion 
Having General Liability insurance can make the difference between keeping your doors open or going out of business when faced with unforeseen and unexpected situations. So if you are looking to grow and protect your business at the same time, it is wise to get this type of coverage for you and your company. 

At American Eagle Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (225) 667-7377. Get your free quote today by CLICKING HERE.