All businesses face inherent risks and exposures that can lead to significant losses. Being responsible for another party’s expenses is a particularly prominent issue that must be accounted for. Regardless of how diligently and safely your company may conduct itself, even an isolated or minor incident can lead to substantial damages. The various expenses and losses arising from an issue for which your business was liable can wreak havoc on your finances. With that in mind, all businesses must understand the value of a general liability insurance policy. 

Who Needs General Liability Insurance? 
General liability insurance provides a wide array of financial protection for policyholders. By acquiring and maintaining adequate coverage, your business can access critical assistance in response to many common incidents. General liability coverage may be of particular importance if your business’s regular operations consist of the following: 

• Hosting third parties (e.g., customers, partners, vendors) on your premises
• Providing services or conducting operations off-site
• Transporting or storing other parties’ property
• Bidding on contracts
• Marketing and advertising 

What Does General Liability Insurance Cover? 
A significant part of the value of a general liability policy is the wide range of incidents it can respond to. Specifically, your coverage can generally be relied upon to provide financial assistance for the following incidents: 

• Bodily injury—If your business is responsible for an incident that inflicts bodily harm on a third party, your insurance can help pay for resulting medical treatment, lost wages and legal expenses.
• Property damage—If a third party’s property is damaged and your business bears responsibility, this coverage can provide financial assistance for repair or replacement costs.
• Personal and advertising injury—This coverage can help your business pay for expenses and losses arising from personal and advertising injuries, such as copyright infringement, slander, libel and false advertising. 

Get the Right Coverage 
Even if none of your employees is injured and your business’s property remains unblemished, bearing responsibility for the losses of another party can have devastating consequences. Without an adequate general liability insurance policy, incidents that you are found liable for can have irreparable ramifications for your finances and may even threaten the future of your company. 

The agents at The Insurance Store USA are here to ensure that doesn’t happen. We pride ourselves on understanding the coverage needs of businesses in the Kissimmee, Apopka and Orlando areas and will work with you to design an optimal general liability policy. Contact us today to get started.