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Facts About General liability Insurance

You will be protected by general liability insurance from devastating claims which are caused from unexpected disasters. Generally, business owner is protected by this insurance policy from a different varieties of negative possibilities regarding the law suits.

If any one is injured or any property is damaged because of the business then business owner may face claims, then claims may create risks. So to protect the business from the financial impact of a lawsuit, a business owner can purchase general liability insurance. Customers, suppliers, delivery people, vendors and visitors of a business are also protected by this general liability insurance. Bodily injury or damage is also included by this policy which can be caused by negligence of employees.

To determine the amount and cost of the policy, many factors need to be considered. Risk is the main obvious consideration. Some businesses have more risk than other businesses. Your insurance coverage should be increased, as the risk increases.

Liability insurance policy covers the damages. Generally, it includes bodily injury, property damage, slander and false advertising. Any legal costs which are associated with a liability suit,also come under the cover of general liability insurance policy.

The maximum amount for the policy period is clearly described in the policy, for paying to a company or business when it is found to be liable for damages in a lawsuit. You should maintain the accurate incident records, and you have to report to insurance company in timely manner.

There are some exceptions also in this policy. So, you should be aware of them and you should take care of them when you are going to purchase this policy.

Updated: May 19, 2014 — 3:40 am
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