One of the best ways to prepare your business for the future is to obtain the right insurance. Commercial general liability insurance protects your business against certain claims, such as bodily injury, property damage, and personal injury. Once you understand the benefits of commercial liability insurance, you’ll know why it’s essential for your business. Find out what it can do for you below.
Bodily Injury Protection
If a third party gets injured in your work zone or building, commercial business liability insurance provides compensation for their medical expenses. For instance, if a contractor leaves out a piece of equipment and a client trips over it, your business will be responsible for any injury caused.
Property Damage Protection
Even experts make mistakes. If your company happens to damage another piece of property during an installation or other service, commercial liability insurance provides coverage for the third party.
Personal and Advertising Protection
This sort of protection is necessary if an employee slanders an individual or infringes on copyright. Furthermore, it protects you if contractors falsely enter a home.
One of the main reasons why businesses invest in commercial general liability insurance is for financial protection. One lawsuit could ruin your company if you don’t have the budget to afford it. Insurance is the best way to prepare for the future and to ensure you have the proper safety nets in place.
Commercial liability insurance pays medical expenses with or without a lawsuit. You may wait to act until someone sues for medical expenses, but you can also use your policy to settle before a lawsuit happens.
You’ll better understand the benefits of commercial liability insurance when you talk to a trusted agent. At Saferoad Insurance, we’ll help you get the best rate on a policy that works for you. Contact our agents today to find a commercial liability plan to safeguard your business.