Important Information about General Liability Insurance that You Should Know
General liability insurance is used for providing protection against different claims. Some of the claims that can be protected by general liability insurance include personal injury, injury to the body, damage to property and other injuries that may arise when one is doing business. You can either choose the coverage without another type of insurance or combine it with property insurance. General liability insurance happens to be very important for all business owners as well as contractors since it will help them have the safety that they need. One thing that you should understand is that accidents that may appear small may bring about lawsuits that are tedious to tackle and hefty. That is why you need to ensure that you have the general liability insurance so that you may get protection from situations such as those.
Also, it is a requirement that before one is employed that they should have this kind of insurance. The employers will have a big reprieve in case anything happens to you while working in their premises. Even though most people believe that the general liability insurance is only good for BOP, it is important to note that contractors also need to have it. The reason for that is because even if they have property insurance for their commercial buildings, there is a possibility for being exposed to different risks when one is a contractor. It is therefore necessary for contractors to have the cover which will help them in the event that something unexpected comes up. For the business owners who have personal property or commercial buildings, they will require to have the general liability insurance.
It will help them be at peace knowing that they have an added tool for protection on top of the other insurance policies that they may have chosen for their businesses. The general liability insurance covers all the financial costs that come as a result of damage to property in your business. it also covers the same in the client’s premises. Also, the insurance will cater for all the legal and medical costs that may be needed in case the person who has been injured may decide to sue you. The other thing that is covered by the insurance is the injuries and damages that may have been caused by your staff as they are providing services to the company.
The property that may have been damaged may be yours or that of your client that you may be taking care of. Also, it will cover all costs incurred in court proceedings in case you get to that. Before you have settled on the general liability insurance, you need to understand what it covers. One thing that is not covered by the general liability insurance is if the client’s computer is physically damaged by your staff. That kind of damage will be covered by another type of insurance policy. The insurance policy will not also cover any services that are delivered in a poor manner and thus leading to loss of finances.