Accidents happen in life, and in business. However, if your company is found to be responsible for damage to someone else’s property, personal injury, or death, you can be held legally liable to pay for their expenses. From a slip-and-fall accident in your parking lot during a Worcester, MA ice storm, to damaging a customer’s home during a delivery, general liability insurance can help pay for losses, lawsuits, and associated expenses from a covered claim.
While all businesses are unique, there are some universal risks that should be protected against:
Whenever one of these situations occurs, you can find yourself being sued for medical expenses, lost wages, or property repair and replacement. Most Worcester, MA businesses cannot pay these costs out of pocket without putting the future of the company in jeopardy. General liability coverage is appropriate for all businesses, large and small, to protect against common risks.
General liability coverage is a broad policy that covers a wide range of situations. If a third party is injured due to your business operations or on your premises, your general liability may cover your expenses, such as:
This can dramatically reduce your out of pocket costs, while protecting your business and your customers from financial harm.
As with all insurance, your general liability coverage cannot fully protect you from every possible situation that arises. Your policy will only pay up to your policy limits, which may not be enough to cover severe situations. You may be able to purchase additional umbrella liability insurance to extend your coverage if necessary.
Your general liability policy may also exclude some situations from coverage. Your agent can help you understand the limitations of your policy and advise you on purchasing other liability coverage such as:
These and other coverages can help provide your business with more comprehensive insurance protection.
For small and medium sized businesses in Worcester, MA, many insurance carriers offer a business owners policy (BOP). These package policies provide convenient and affordable coverage to businesses that have a standard risk profile. By grouping several policies together, you can get seamless insurance coverage at a discounted price.
Because all businesses face the risk of causing injuries or damages, general liability insurance is one of the basic forms of insurance included in these packages. If you purchase a BOP, your general liability needs should be included.
Accidents occur in every industry, and cause financial losses for Worcester, MA businesses every year. If your business is liable for injuries or damages to a customer or other third party, the expenses can put the future of your company in jeopardy. General liability insurance can help cover your expenses when covered accidents occur.