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Written by Adam Miller
Understanding General Liability Insurance

For business owners, the different types of commercial insurance policies and insurance terminology can be daunting. Since there is no standard guideline on how to insure a business or protect company assets, some business owners may find themselves either getting the wrong type of insurance, or overlook crucial forms of commercial insurance because of confusion regarding the coverage, exclusions, and regulations of the policy. Today's blog will focus on General Liability Insurance policies, explaining the basics of this coverage and why it is essential for all business owners.

What is General Liability coverage?

General Liability coverage is commercial coverage that helps protect businesses from unexpected accidents or legal situations where the business may be found at fault. This coverage can help cover medical expenses, legal damages, and even attorney fees that a business is legally responsible for. General Liability can also help cover the costs of legal defense, judgments, and other court fees for businesses that face professional liability lawsuits for services or professional opinions rendered.

What Does It Cover and Not Cover?

General Liability coverage is just one type of Commercial Insurance that many businesses need to properly insure the value and assets of their company. It differs from other types of Commercial coverage in that it does not provide coverage for specific business assets such as commercial vehicles, structures, inventory, or even employees. However, it can be tailored to specific types of businesses or industries that have varying degrees of risk or liability, such as restaurants, auto repair shops, contractors, farmers and ranchers, and even attorneys. Businesses can get customized General Liability coverage that may also include endorsements for professional liability, product liability, liquor liability coverage, employment practices, and errors and omission (E&O) coverage.

Why Does My Business Need It?

Businesses of all sizes and in all industries benefit from General Liability coverage because accidents and issues can arise at any time, and the legal and financial ramifications can be difficult for businesses to overcome. A single judgment against a company can cause financial ruin if the business does not have the liquid assets or General Liability coverage in place to cover the loss. A thriving and successful business should never have to liquidate all their assets and let go of their employees just to pay a judgment or medical expenses levied against them. General Liability coverage offers the protection businesses need to pay expenses and damages without sacrificing their company or financial stability.

Aegis is proud to partner with Houston businesses in need of quality, reliable commercial insurance solutions at competitive rates. Aegis offers a full range of commercial insurance coverage, including Business Owners Policies, General Liability, Commercial Auto, Workers Compensation, Excess Liability Coverage, and Commercial Property Insurance. Call the experienced and friendly agents of Aegis today at 713-850-7622 for more information, or go online for a free quote!

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