| It's pretty much an established fact that we live in an | | | | they are often tailor-made for low-risk businesses. |
| extremely litigious society these days. It's an absolute | | | | You may want to purchase general liability coverage |
| necessity that business owners look into General | | | | in its own right if you feel your business is at a higher |
| Liability Insurance to help protect themselves from | | | | risk of litigation. |
| lawsuits. The following is a brief overview of the | | | | Assessing Need |
| nature of general liability insurance and its coverage. | | | | Just as with your auto insurance, your coverage |
| Does my Business Need It? | | | | needs will vary from state to state. Look into the |
| You'd be surprised. Many business owners think that, | | | | average damage amount awarded in your state- if |
| since they don't own a restaurant, say, where | | | | it's on the higher end, you will need higher coverage |
| someone could slip on a floor or break a tooth on an | | | | limits. As with other insurance coverage, each policy |
| olive, for example, that they don't need coverage. | | | | will set limits on the amount owed by either the |
| What they don't realize is that any company | | | | insurer or the insured in a policy period. Consulting an |
| providing a service is at risk for a liability lawsuit. Any | | | | experienced insurance broker is a good idea to make |
| business entity dispensing advice, opinions or solutions | | | | sure you get sufficient coverage for your business. |
| could face this kind of litigation. | | | | Protecting your Business |
| What's Involved? | | | | Make sure to stay on top of any incidents that could |
| General liability insurance covers claims related to | | | | lead to litigation. Just as with your auto insurance, |
| negligence like bodily and personal injury, property | | | | you should report an accident right away and make |
| damage, and advertising injury (also known as false | | | | sure that you compile accurate documentation on the |
| advertising). It will also cover legal costs incurred | | | | incident and submit to your insurer. |
| during litigation, regardless of the validity of the claim. | | | | Also, make sure to train your employees to prepare |
| General liability does not cover incidents in which | | | | against or respond to such incidents. Everything from |
| criminal intent is involved or litigation involving punitive | | | | basic customer service to health and safety |
| damages. | | | | standards can be involved in a liability claim. Having a |
| General liability coverage is often offered to | | | | well-trained and prepped staff will supplement your |
| businesses in a package called a Business Owner's | | | | insurance coverage and go a long way towards |
| Policy or BOP. Make sure that you look closely into | | | | protecting your business and its interests. |
| the general liability coverage in these packages, as | | | | |