If you are planning to start a business, you will need to make sure you get the right insurance to protect your interests. For example, you will need commercial property insurance to cover damage to your building, but that’s just one of the many types of business insurance you might require. Our team at Morco Insurance Agency has extensive experience in helping business owners like you get the coverage they need, including general liability insurance. In this article, we will provide more information about why every business needs general liability insurance.
What is General Liability Insurance?
If someone gets hurt while on your business’s premises, or if their property is damaged by an employee, then they may take you to court for damages. If the court finds you liable for the accident, then you will have to pay the amount awarded to the plaintiff. General liability insurance is designed to cover you in cases like this. The insurance policy will pay out to cover some or all of your legal expenses, including the damages awarded to the plaintiff if they win.
Why Do Businesses Need General Liability Insurance?
We encourage all business owners to invest in general liability insurance as a matter of course in order to protect yourself from litigation. It’s better to have the peace of mind an insurance policy can offer rather than take the risk of going without. Having general liability coverage allows you to pay a monthly fee and not have to worry about the costs of any potential lawsuits rather than getting hit with hefty legal costs by surprise.