Business Liability Coverage Help Protect Your Business From Accidents
Liability claims are among the most expensive business insurance claims. Without appropriate liability coverage, one lawsuit or unexpected event can force you to close your doors. Business liability insurance can help you protect your business from the 3 top risks named in the survey.
In order to protect your business from cyber incidents, PR disasters, and the impact of new technologies, you need:
- General business liability insurance also known as Commercial general liability insurance (CGL) is the most basic form of business liability insurance.
General liability insurance definition: A contract that protects a business against claims due to injuries, accidents, and negligence. It can protect your business from costs related to bodily injury, property damage, medical expenses, legal costs, judgments, and personal injury claims such as libel and slander. To protect your business from more specific types of emerging threats, you may need to purchase additional liability policies.
Business liability insurance—in all of its forms—is essential to the long-term success of your business. Every business liability policy must be tailored to your unique business, or you face having limited or no coverage when you really need it.
Consulting with an independent agent who represents multiple insurance companies is the best way to ensure that you can find the best basic and specialized commercial liability insurance to address all of the insurable risks inherent in your business. Working with your local independent agent, you will determine the type and amount of coverage you need based on:
- Business size, type and value
- Type of work you do
- Type of risks
- Level of liability
The Summit Group can help you find the best coverage to meet your needs and budget.