Your general liability insurance is essential if you and your sales team or employees always meet with your clients. You will need general liability insurance if you're using your client's equipment if you represent your client at any moment. You will also need this type of insurance if you need it as a legal requirement before you enter into a contract. Also, if your state requires it, then you need it.
Understand the Coverage of General Liability Insurance
You should know what general liability insurance covers and what it does not cover. General liability protects your business in case someone gets injured in your business property. Business property may also include all the possessions owned by the business, including company data. This type of insurance also provides coverage for damage to a client's property. However, general liability insurance does not cover workers' accidents or damage to your own assets or property.
Determine the Cost of General Liability
A survey conducted recently points out that many small businesses in the United States pay only an estimated $30 per month as premium for general liability. However, you should know that several factors in your business can impact the cost of premiums, including deductibles, location, industry, and the size of your business. Choose an affordable but good general liability insurance policy.
Try Customizing Your General Liability Insurance Coverage for Your Own Needs
If you want custom coverage for your company’s general liability insurance, you need to talk to your insurance agent. Always make a list of the potential benefits and risks before you go for a customized plan. The idea of talking things out with your insurer or agent will help you determine the right coverage for your business.
Some Final Words
It's not easy determining general liability insurance. It's undoubtedly harder paying for it. However, you'll be in the worst situation if you don't have a general liability insurance policy. That's the only way for you to have peace of mind if you're a small business owner.
At Independent Executive Insurance Broker, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (805) 624-4815 or Click Here to request a free quote.