Let’s say your small business has developed a seamless workflow that maximizes productivity and profitability. No matter how foolproof your day-to-day operational process seems, you cannot entirely remove the possibility of personal injury and property damage.
Amistad Insurance Services helps your small business find general liability insurance policies that safeguard your livelihood and shoulder the cost of business-related damages and injuries. Our Raleigh, NC agents look for policies based on your budget and unique business needs.
Why Should Business Owners Have General Liability Insurance?
North Carolina’s economic development heavily depends on small businesses that make up 98% of all state employers. Many small businesses in the state are uninsured, though. They incur financial losses because of legal claims filed against them. In financially heavy scenarios, they might have to let go of some employees.
Prevent this from happening to your business by securing general liability insurance.
General liability insurance provides financial protection from legal claims and costly settlements that result from work-related accidents and personal injuries. You can better shield your livelihood from financial losses by getting a comprehensive liability insurance policy, instead of simply relying on your financial capabilities and workplace safety measures.
Even workplaces with the most stringent safety measures aren’t completely safe from unfortunate incidents in the workplace or on the job. Protect your team, your property, and your financial bottom line by securing comprehensive liability insurance.
On a related note, general liability insurance can be part of the Business Owner’s Policy, a comprehensive insurance package that all small businesses benefit from. Learn more about it from our Raleigh insurance agents.
What Is Covered by Your General Liability Insurance?
Simply speaking, general liability insurance is a type of coverage that protects your
business from financial losses and lawsuits over work-related injuries and damages to individuals outside of your organization. If we break down the coverage, these are the inclusions:
- Bodily Injury, including physical injuries to an individual — who is not your employee — caused by you or one of your employees in the workplace or on a client’s property.
- Property Damage, including damages on another person’s property caused by you or one of your employees while conducting business.
- Personal Injury, including libel, slander, false arrest, wrongful eviction, copyright infringement, invasion of privacy, and similar claims that damage an individual’s rights and reputation.
- Legal Defense and Judgments, including the financial cost of defending against lawsuits — not including negligence and willful misconduct — that are within the limit of your insurance coverage.
- Advertising Injury, including losses due to your business advertising.
General liability is not actually required by North Carolina law but it can save you
from high legal expenses related to a claim filed against your business. It can also save you from paying for medical bills and legal fees. For example, general liability coverage provides backup if a client visits your office, slips on the floor, and twists their ankle. So, although not required, this type of insurance should be a business priority.
Please be reminded that general liability insurance only covers third-party damages,
meaning damages for the individual who filed a claim against your business. Because you are considered the first-party, the insurance does not cover your own business property against damage. That is a separate insurance type, entirely.
Contact Us for a No-Obligation Quotation
Amistad Insurance Services is keen to discuss the best insurance choices with every client. We don’t just present the lowest prices. We consult with you regarding your general liability insurance needs so that you can be sure of having the type of coverage you need and being well-protected.
Get in touch with us, today, and request a no-obligation quote.
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