MGS Insurance Protection Blog
General Liability (GL) Insurance is one of the most important types of business insurance. Through this, your business is protected from going into bankruptcy caused by several liabilities that are further discussed below.
General Liability Insurance Coverage
Every business sets policies to protect them, their services and operations, and their employees from unexpected incidents. If the company is found liable for such incidences, this type of insurance will be paying for the costs of the lawsuit filed. Standard general liability insurance includes:
A. Physical Injury and Damage to Property Liability
Coverage for this type of liability protects the insured from injuries or damages caused by the business or business operations. One example of physical harm is when a customer slips and falls while visiting your business. Damage to another property caused by your employee or processes conducted is also considered under property damage liability. Other injuries, not limited to physical harm, such as those that may affect a person’s mental or emotional health, is also included.
B. Personal and Advertising Injury
In this liability coverage, the insurance protects the company from personal and advertising injuries. For example, when a person’s reputation has been affected or when your company was accused of using the same trademark or slogan of another company.
C. Medical Expenses
GL insurance includes this policy to pay for the needed medical, surgical, ambulance, hospital, professional nursing, and funeral expenses. Injuries due to business operations or those accidentally inflicted by a non-employee, taking place on the company’s premises are examples.
Additional Liability Coverage to Consider
If the general liability policy does not provide sufficient coverage, BOP, or CPP of your business type, obtaining additional liability coverage for protection should be considered. Liquor liability coverage is endorsed to protect your company from damages resulting from injuries caused by someone claimed to be intoxicated, causing harm to himself or others. Pollution liability coverage can protect the company generally from unforeseen pollution hazards from operations that may lead to damages.
General Liability Insurance is a necessity for business owners. It is essential to get this type of insurance to protect your business from lawsuits. Consultation from an insurance professional may help you determine the kind of coverage your business needs.
At MGS Insurance Protection, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (561) 282-6699 or Click Here to request a free quote.