Does your business have a strong general liability policy? One infographic states that 20% general liability insurance Orlando claims are for burglaries or other types of theft, but your policy should cover much more than that. Look for these types of coverage when speaking to your insurance agency.
Coverage for Third-Party Injuries and Damages
Coverage is essential if you want to protect yourself from customers who make injury claims against your business. Did someone slip and fall while they were on your property? Your general liability coverage should cover The average claim is $20,000, which means you’ll be paying that out of pocket without the right insurance. In addition to covering medical expenses, the policy also provides financial relief related to any administrative or court costs related to the injury claim. The same can be said for damages costs as well. Liability provides funding for repairing any property damage your business causes, as well as for costs related to advertising injury claims.
What General Liability Won’t Cover
The key to understanding general liability coverage is knowing the money is only used to pay for damage or injury to other people, such as clients or other businesses. If you want to protect your own company, you’ll need additional policies. General liability won’t pay for anything related to repairing your own property, employee medical expenses, or illegal or malicious acts by your business.
Without the proper liability policy, you put your business at great risk. Talk to your insurance agency to ensure you have the full protection you need.