Every business owner needs general liability insurance. Whether you have a small real estate office or are running a ten man construction crew, general liability insurance is your first line of defense against having to defend yourself in court. General Liability policies are the bedrock of any commercial insurance package for any size company. A GL policy isn’t just liability coverage – there are many options to help protect your business.
Business interruption coverage – If you have a covered loss that keeps your doors closed for a bit, you can offset that hassle by having business interruption coverage. This covers your regular operating expenses, and can even cover profits you would have made if you hadn’t had to make a claim.
Personal and advertising injury coverage – If you hire a knucklehead employee who drains a customer’s radiator so he can’t leave, or if you get froggy with your advertising and disparage a competitor – that’s where this coverage comes in. You never know what someone can accuse you of, and that’s what this coverage protects you against.
Business Personal Property Coverage – Odds are that your business has some property you need to keep it going – either specialized tools, or even office equipment such as phones and computers. If something happens, you need to be able to hit the ground running and get back to where you were before you had a claim. Business personal property takes care of getting your office furnished again, quickly.
Products and completed operations coverage – If you offer a product, or perform a service, sometimes things don’t go wrong until your customers are on their own, and you (or your crew) are long gone. Products and completed operations coverage acts as sort of a “Warranty” – so when the job is done, you know you are covered if something isn’t right.