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Written by Adam Miller
What Does General Liability Insurance Actually Cover?

If you look around your retail store, restaurant, or office space right now, how many potential hazards do you see? At first, you might say "none," but take a closer look. Do you have retail merchandise stacked a little too high, where it could fall down onto a customer? Are there any cracks in your restroom tile or uneven sections of office carpet that could trip a vendor or client? Does your company's parking garage lack adequate lighting in stairwells? All of these potential hazards could lead to accidents, damages, and injuries that could create significant liability issues for a business. In today's post, we take a closer look at how businesses can be protected in the event of an accident through General Liability insurance.

What is General Liability Insurance?

Simply put, General Liability insurance protects businesses against lawsuits filed by third-party individuals, and not by employees. For example, a vendor, customer, or passerby could sue if they suffer bodily injury or personal property damages on your commercial property. In addition, a competitor or other business could sue if your company has used copyrighted or trademarked materials without permission. Although General Liability insurance does not cover all forms of third-party lawsuits, it can offer businesses tremendous legal and financial assistance in the event of a lawsuit or hefty judgment against the company.

How Can It Help?

A single lawsuit against a company can consume significant amounts of time, money, and energy for court costs, attorney fees, and defense preparations. Most small to medium-sized businesses do not have the resources to pay these costs out of pocket, much less absorb the financial blow of a major judgment or fine against the company if they lose in court. General Liability insurance protects company assets and can help cover the cost of attorney fees, judgments and damages, defense expenses, medical expenses, and other court costs related to a third-party lawsuit. This coverage allows businesses to continue operations without being overwhelmed with the expenses involved in a lawsuit.

Does My Business Need General Liability Insurance?

Businesses of every size and within every industry can benefit from General Liability Insurance, both because of the tremendous protection it provides companies, and because of the highly litigious society we live in. Although a significant percentage of lawsuits filed against small businesses are related to bodily injuries or accidents on company property, there are also other reasons a business might face a lawsuit. For example, if a fire breaks out in your leased retail or restaurant space, the leasing company may file suit for damages and repairs. In addition, your company could be sued for libelous statements, slanderous comments, or copyright infringement.

Businesses can face lawsuits at any time, which is why it's so important to have reliable, top-quality Commercial General Liability Insurance in place to protect the business and assets you've worked so hard to gain. Aegis Insurance & Financial Services offers businesses of all sizes exceptional insurance protection, including General Liability coverage, Business Owners Policy, Excess Liability coverage, Commercial Property coverage, Commercial Auto Insurance, and Workers Compensation insurance. In addition, Aegis offers customized commercial insurance solutions tailored to your specific industry, such as retail, restaurants, general contractors, attorneys, and farms and ranches. Contact Aegis Insurance & Financial Services for more information on our full range of Commercial Insurance policies, or go online to request a free quote today!

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