5 Things You Need to Know About General Liability Insurance

For business owners, there are many things you need to know about general liability insurance coverage. General liability insurance protects the company’s assets in the case of damages or injuries that may occur while someone is on the company’s property or when someone is injured or suffers damages due to an employee or other company representative’s negligence or error.

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Among the things you need to know about general liability insurance, there are five basics that you need to understand in order to truly protect your business.

  1. General liability insurance can protect a business from monetary damages and legal proceedings, paying for legal defense and potential settlements.
  2. General liability insurance is an investment in protecting your business and its assets.  The cost of the insurance premiums is worthwhile in light of the “litigious society” that we live in, according to the Small Business Administration (SBA).
  3. There two major factors that help in determining your insurance needs: the type of business and the perceived risk associated with operating that business.
  4. General liability insurance utilizes up to the maximum amount of your policy in case of an insurance claim.  It behooves you to review your current policy’s coverage and assess whether it is high enough for your type of business.
  5. Know how to file a claim, i.e. what number to call or what forms to fill out.

Contact us to work with an experienced and professional insurance agent for help with reviewing your current policy and determining if you need to increase your coverage as well as exploring any other insurance options.

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About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on December 1, 2014, in Agency and tagged , , , . Bookmark the permalink. Leave a comment.

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