3 Reasons Why You Should Get General Liability Insurance

​Most business owners purchase commercial insurance as a safety net in a financial emergency. Insurance protects not only the company but its employees and customers. It helps business owners make amends when they unintentionally cause harm to others. 

As a business owner, you know the dangers lurking around every corner. You can’t always predict what will happen in business, so it’s best to prepare for the worst. And this is exactly why you need to invest in general liability insurance. You need general liability insurance for three reasons listed below. 

1. If You Make a Mistake, Your Business is Protected
   You shouldn’t need to go through too much trouble to pay for your mistakes. Someone may file a personal injury lawsuit against your company, seeking compensation for medical expenses, lost earnings, and other losses in the thousands of dollars. That’s a significant sum of money you may not have right now.
   
   Without liability insurance, you have no safety net in an accident. It could cost you a lot of money if you try to reimburse dissatisfied customers. Not every company can survive a crisis like this, even with the best plans. Maintaining your long-term financial stability typically requires nothing more than having liability insurance in place. 
   
   
2. Get More Big Deals Closed
   The lack of general liability insurance could prevent your company from winning significant contracts. Companies typically require general liability insurance from bidders before awarding large contracts. This can protect them if anything goes wrong with the project. Without general liability insurance, it may be difficult to win large contracts.
   
   
3. Long-Term Reputation Benefits from Coverage
   Liability insurance is like constructing a ship to safeguard your company’s future. If a liability claim arises, you will still be capable of handling it. 
   
   Consequently, you'll have the money to improve the effectiveness and reliability of your operations. Companies that can expertly address customer concerns earn their business and loyalty. General liability insurance will help shield your company from any potential damage to its reputation.

Conclusion
A general liability policy covers claims that your company caused injury or damage to another party's property. These dangers can arise even when operations are proceeding normally. Many smaller companies simply don't have the financial resources to deal with the high costs associated with liability claims.

At Richard Turner Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (619) 296-6222. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed. Consult with your agents to determine what your policy does and does not cover. We are more than happy to help!