4 Reasons to Have General Liability Insurance

General liability insurance is the first line of defense that a company or individual will have against all of the most common accidents and injuries. Not only is it a legal requirement in many municipalities, it can also mean the difference between successful business growth and debilitating fines, medical bills, lawsuits, and more. Here are four of the most important reasons that everyone should take a fresh look at this key form of coverage.

1. Onsite Injuries
Keeping one’s staff safe while on work property is one of the most compelling reasons to have a comprehensive insurance policy. Without this type of coverage, all costs that arise from injuries will be the responsibility of the company itself including injured clients or third-parties.

2. Having Access to a Client’s Property
The moment that a company and its employees have access to the property or possessions of a client, there will be a risk of theft, damage, and ongoing legal battles. A general liability policy will provide the funds that will be needed to replace or repair items or even cover legal expenses in the event of a civil trial.

3. Protecting Employees Offsite
Not all work is carried out on company property, and employees are still under the responsibility of the company while carrying out their duties. From car accidents while traveling to injuries at offsite locations, these are just a few of the costs that no company should take on by themselves.

4. Equipment Replacement and Repair
As a business continues to grow, so will its property and assets. General liability coverage is often one of the most important facets of a Business Owner’s Policy (BOP) due to the fact it will cover the typical damage that is sure to take place over the years. This also includes any company property that has been stolen or vandalized and in need of repairs or complete replacement.

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