General Liability: Here’s Why You Need It!

General liability insurance is essential for businesses because it protects many potential risks and liabilities. Here are some reasons why general liability insurance is important:

  1. Protection against bodily injury: General liability insurance covers the costs of bodily injury or property damage caused by your business operations. Suppose someone is injured on your premises or due to your products or services. In that case, this insurance can help cover medical expenses, legal fees, and potential settlements or judgments.
  2. Coverage for property damage: Accidental damage to someone else’s property can happen, and general liability insurance can assist in covering the costs of replacing or repairing the damaged property. This is particularly important for businesses that work on client premises or handle client property.
  3. Legal defense costs: If your business faces a lawsuit, general liability insurance may be able to help cover the legal expenses, including attorney fees, court costs, and settlements or judgments. Legal defense can be expensive, and having insurance can provide financial protection and support during such situations.
  4. Product liability coverage: If your business manufactures or sells products, there is always a risk of a product defect causing harm or damage to customers. General liability insurance typically includes product liability coverage, which protects your business against claims arising from defective products.
  5. Completed operations coverage: If your business provides services that involve work performed on clients’ property, completed operations coverage is crucial. It protects your business against claims of property damage or bodily injury that may arise after you have completed the work.
  6. Contractual requirements: Many businesses, especially when working with clients or contractors, may have contractual obligations to carry general liability insurance. Having this insurance helps you meet those requirements and ensures that you can fulfill your contractual agreements.
  7. Reputation and trust: General liability insurance demonstrates that your business is responsible and takes its obligations seriously. It can enhance your reputation and give clients, customers, and partners confidence in your ability to handle potential liabilities.
  8. Peace of mind: Knowing that your business is protected against potential liabilities and risks provides peace of mind. It allows you to focus on running your business without worrying about the financial consequences of unforeseen events or accidents.

It’s important to note that general liability insurance’s specific coverage and limits may vary depending on the insurance policy and the insurer. It’s recommended to consult with an insurance professional to understand the particular needs of your business and determine the appropriate coverage.

Call one of our insurance agents located in Bethel or South Paris, Maine, today for a general liability insurance quote. We got you covered!