General Liability Insurance
General liability insurance gives you financial protection from claims in the event your business leads to property damage or bodily injury. The insurer assumes responsibility in case you are sued for an injury that happened in your business, damaging a third-party property or causing an advertising injury such as libel, slander or copyright violation.
Your general liability insurance will settle reasonable costs incurred in your defense. This includes attorney, expert witness or court fees. We are here to help you understand the importance of general liability insurance.
General insurance covers plaintiffs’ medical expenses and other expenses related to your case. At GEC insurance services, we provide general liability insurance at affordable costs. General liability insurance will help you avoid stress and headaches in case an accident happens on your business premises.
Here are the reasons why we recommend general liability insurance to every business owner.
Protection Against the Unknown
The primary benefit of this policy is liability coverage. When you acquire one, you will be protected from the unexpected. You might feel as if you have eliminated all hazards in your business, but accidents happen when least expected. By acquiring general liability insurance with us, you will have peace of mind knowing you have protection in the event of an unfortunate incident.
Third-Party Bodily Injury Protection
When a guest slips off and breaks their leg in your business, they could potentially sue. Such lawsuits can strangle your business finances and, in some instances, can lead to business closure. Our General liability insurance covers the cost for bodily injuries suffered by a third party as a result of your business operations or on your business premises.
Third-Party Property Damage
Our commercial general liability policy will protect your business if you are found to be responsible for damage to third parties’ property. The policy covers loss or damage of others property.
Protection Against Data Breach
A data breach can land your business into a lot of trouble. If your business stores customer’s information such as names, social security data and addresses, it is imperative to have general liability insurance. Fortunately, a significant number of policies include a provision for electronic data liability, meaning that your insurer will assume responsibility in the event of a data hack.
However, it is prudent to note that the insurer can only compensate if, the specific event is included in your general liability coverage. If hacking is not included in your liability coverage, we recommend you to acquire cyber liability coverage.
Protection Against Employees’ Actions
No matter how diligent your company is when hiring new staff, it is still daunting to guard against staff actions. General liability insurance covers things as simple as slander or something severe as personal injuries or property damage. However, we recommend business owners to acquire an additional policy known as personal liability insurance.
Protection Against Advertising Injury
All damages are not tangible. If your company infringes copyrights, patents or any other form of intellectual property, the offended party could potentially sue. General liability insurance comes in handy if your employees commit offenses such as a libel, slander or malicious prosecution.
Coverage for Medical Expenses
After acquiring a general liability policy with us, we will cover for medical expenses if a non-employee is injured on your business premises or during your company’s operations. Coverage for medical expenses can be initiated without necessarily taking legal action. We can request for medical claims and settle them quickly without litigation.
There are numerous risks associated with running a business. Therefore, it is prudent to protect your business from responsibility by acquiring the appropriate insurance coverage.
General Liability Insurance Articles
Business Insurance and Ransomware Attacks
Whether you own a business or work within the security department for your organization, there is one thing you cannot deny: There's a need for top-notch cybersecurity implementations and protocols in today's digital marketplace. Whether its password lockout policies designed to protect the accounts of users within a network or hiring staff to maintain and monitor your security posture, evolving attack vectors never sleep, and attackers will work 24-hour shifts to steal your data. But what happens if our systems become compromised? Better yet, how should security professionals position themselves to protect the financial infrastructure their business relies on to [...]
Why All Businesses Should Carry Business Owners Policy
It is always a concern for a business owner to have their business covered for anything unexpected that could happen. The factor of the unknown is something successful business owners prepare to handle because they know it's always possible. A business owner's insurance policy is the best way to be protected against the unexpected. Business Owner's Policy This is a type of insurance designed to protect businesses from all significant liability and property risks in a single policy. This type of insurance is good for a business but is also essential for professionals. This includes property managers, accountants, real estate [...]
Types of Insurance That Every Business Owner Should Carry
Running a business comes with a certain level of risk. There are many unforeseen situations and circumstances that are bound to affect the normal operations of your business. That is the reason why you cannot afford to operate a business without insurance. Sometimes you might be tempted to think that avoiding insurance will save you money in terms of premiums. But the truth is that insurance is one of the best ways to protect your business from financial losses. However, it is important to ensure that you purchase the right type of insurance from genuine and accredited insurance companies. Before [...]