Whenever you do business, you run the risk of harming another individual. If an accident occurs, the affected party might want compensation. It's likely your responsibility to meet this expectation. If you have general liability coverage, you might be able to use it to your advantage. What's its purpose within the insurance landscape? How will it help you in case of an accident?
General liability coverage will likely prove extremely beneficial to your operation. Talk to your Heritage Insurance agent today about enrolling in coverage.
What Liability Insurance Covers
Most businesses need to carry general liability insurance. It protects the business's duty towards its customers.
If your business' actions cause harm to a client or other party, you can use this coverage to compensate them for their losses. After all, in situations where you make a mess, you likely must clean it up. Doing so demonstrates responsibility and courtesy to your customers. You caused them an accidental loss, and therefore need to make sure you cover the damage.
With your coverage, you can get coverage for several damages you might cause. Your policy might cover:
- Bodily Injuries: If a client gets hurt in your business, this protection can pay their medical costs or other bills. Coverage might also apply if you or your employees accidentally harm a client when providing a service.
- Property Damage: When providing services, you might use or visit a client's property. If you accidentally damage that property, use this portion of coverage to pay for the damage.
- Personal Injuries: In the event a client accuses you of libel, slander or a similar charge, this coverage might compensate them and pay legal fees.
- Advertising Injuries: Claims related to a misrepresentation of service will likely fall under this coverage. It might also help if you unfairly target a competitor, for example.
Keep in mind, most liability policies vary. Therefore, yours might contain only certain aspects of the coverage above. You'll therefore need to work with your agent to augment and expand your coverage. It's up to you to determine where you need more protection.
The price you wind up paying for your coverage will vary. First, it will depend on the amount of risk you pose to the insurer. Second, the amount of coverage, along with such supplementary costs as deductibles, will also impact your price.
Remember, even with coverage, your policy won't cover every accident. It never will cover illegal acts. Talk to your Heritage Insurance agent about the best way to establish the most secure coverage.