Life rarely goes according to plan, meaning accidents can and will happen. This shouldn’t necessarily lead to failure, though, especially when you run a business. To keep yourself afloat and avoid unnecessary expenses, you need general liability insurance. This important coverage safeguards you from legal claims in case of an injury or damage occurring on your property, helping your business save on legal costs.

What Is General Liability Insurance?

What It Covers

The extent of your general liability coverage will vary depending on your policy. Typically, it covers third-party bodily injury, third-party property damage, and sometimes libel- and copyright-related damages. Some common examples of these situations might include a customer getting hurt on your property, an employee accidentally damaging a client’s possessions, or your business being sued for copyright infringement. General liability insurance is not the same thing as workers’ compensation, which is a different type of insurance.

Why Your Small Business Needs General Liability Insurance

Everyone makes mistakes, and businesses are no exception. The difference between making a mistake as an individual and making a mistake as a business, however, often results in legal claims. In other words, people are more likely to sue a business if they suffer damages from it. By investing in general liability insurance, you’ll save money on court fees and other expenses you’d incur while defending yourself. High-risk businesses, such as contracting firms, tend to require the biggest policies.

Are you a local entrepreneur who needs small business insurance? To speak with a knowledgeable and friendly agent in the High Point, NC, area, get in touch with Phillip Kent Beck Agency today. As a Nationwide® Insurance agency, they offer the consistency and quality you can expect from a trusted insurance carrier, with the accountability of a local branch. Call (336) 434-2111 to inquire about their general liability insurance and other insurance products, or go online for more information.