A Guide To Commercial General Liability Insurance

Are you looking for ways to protect your business and clients from a financial setback? Do you fear that one mistake by your staff could lead to monumental damage to your clients? If so, then you need to learn all that you can about commercial general liability insurance.

Every company should invest in business insurance to protect its future. All it takes is one error to complicate your business’ finances. With the right coverage, you can have total peace of mind as you go about your daily business operations.

See below for an in-depth guide on commercial general liability insurance and why it’s so essential.

What Is Commercial General Liability Insurance?

Imagine the horror of finding out that a customer is suing you for the injuries that they sustained. For example, a customer might claim you’re responsible for their slip and fall accident because a wet floor sign was not around the slick area. Another example is that a customer could claim that a product you sold them was faulty and led to their injury.

Whatever the case might be, you need coverage. Without it, your company will be left on the hook for covering medical bills, loss of wages, and more.

This is where commercial general liability insurance comes in. It protects you and your company from claims that include damage or injury. No matter what industry you’re in or the product/service you sell, general liability insurance is a must have. It can cover:

  • Damage that was done to a client’s property (such as a faulty plumbing repair causing water damage)
  • Injuries caused by confusing advertising
  • Reimbursements for your defense costs (such as lawyer fees)
  • Any physical injury on your property to a worker or customer

Don’t let your business in New Jersey or elsewhere go a day longer without protection. Reach out to us to learn more about our commercial general liability insurance right away.

What To Look For In A Business Insurance Provider

You wouldn’t purchase a car from a dealer that you didn’t trust or apply for a business loan with a funding agency you don’t believe in. Why do any differently with the insurance provider for your business? Your coverage is a major investment. For that reason, it’s important to know what to look for in a trusted insurance provider.

First, you can gain some valuable insight from their customers by browsing through online reviews. Do they seem satisfied with the coverage and service they’ve received?

Next, gauge the insurance company’s communication skills. Give them a direct call and ask them as many questions as possible. Do they take the time to answer your questions thoroughly? Do they seem knowledgeable and passionate about their products?

Finally, find a local insurance company. Here at Central Jersey Insurance Associates, we’re passionate about protecting the businesses in our community. We want to help small business owners overcome emergency situations.

What Are The Benefits Of Commercial General Liability Insurance?

Now that you understand what general liability insurance covers, let’s dive into the reasons you need it most. See below for some of the biggest benefits of investing in liability insurance for your business.

Protects Your Company’s Future

Some business owners try to save a few dollars by not investing in business insurance coverage. However, by doing so, they may end up costing themselves thousands of dollars, if not their entire business.

Without proper coverage, your company will be held financially responsible for the injuries and damage associated with your services. By the time you add up medical bills, lost wages, and such, that’s a dollar amount that sends most small businesses under.

With general liability coverage in place, you’re able to protect your company’s future.

Business As Usual

As a small business owner, you have your plate filled with different responsibilities. You know that even one minor setback could end up costing you hundreds or thousands of dollars in sales. Claims against your company can prove to be an enormous obstacle without the right coverage.

With commercial general liability insurance in place, you’ll be able to cover the cost of legal representation and overcome this adversity.

With that worry out of the way, you and your staff can focus on running your business operations, knowing that the claim is being taken care of by experts.

Peace Of Mind

There’s no denying the mental toll that a claim can take on a business owner. You started this company to help people, so the thought of someone suffering a setback can be worrisome.

Without proper coverage, you’ll experience a stress level unlike any you’ve experienced. Every piece of evidence they stack against you is more money out of your pocket.

Thankfully, general liability insurance can give you some much needed relief. You can rest easy at night knowing that, if an accident occurs, you have protection for yourself, your company, your workers, and your clients.

Invest In Commercial General Liability Insurance Today

Now that you have read an in-depth guide on why commercial general liability insurance is so important, use this information to your advantage.

Take the time to read this article for more information on the business health insurance that your New Jersey company needs. Call us directly at 732-383-7158 and we will be happy to assist you further.