How Does General Liability Insurance For Small Business Work?

By Sharon Gibson Posted in Business Insurance News



Running a small business should not be threatened by a lack of insurance. Things can happen to a business that will close it down, simply for a lack of general liability insurance.

Every Business Needs Insurance

There are differing components of general liability insurance and some form should be purchased before a business opens its doors. People will sue and take the business owner’s money and home if the proper insurance is not purchased. Be safe, buy general liability insurance. The amount of coverage like auto insurance, must be thought out, for the particular needs of the business.

Components Of General Liability Insurance For Small Business

Unless a doctor or lawyer or other professional, professional liability insurance is not needed when running an ordinary business, such as a retail establishment. Product liability should also be purchased by the store owner. If the business sells an item unknowingly that it did not manufacture, the business as well as the manufacturer can be held liable.

For an ordinary business, a shoe store for example, general liability is one insurance to buy early.
This type of insurance will cover the store for advertising claims. Any claim that is proven to be not true can result in a lawsuit.

Most of the lawsuits that general liability insurance protects against are the traditional claims. If the store, its car, or employees cause property damage, then general liability insurance will cover for the amount agreed upon in the insurance contract. Should someone slip on the floor and get hurt, it would be to the store’s interest to have insurance. This is true even if the person did not really slip or get injured. If this is not proven, it will come out of the store’s profits, which will end its profitability. Even if proven, lawyers are expensive

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