General liability insurance is one of the most common types of coverage that Elmer, NJ business owners buy to mitigate the risks of damages arising from claims. Sloan Insurance Agency delves into general liability insurance, its coverage, and how it protects businesses from claims.

What is general liability insurance?

General liability insurance is a type of insurance policy that protects businesses against bodily injury and property damage claims.

What does general liability insurance cover?

Every general liability insurance policy differs, but most cover bodily injury, property damage, personal injury (including libel and slander), advertising injury, and contractual liability. If a customer slips on your premises and gets injured, your general liability policy kicks in to cover medical expenses. In another scenario, if one of your employees accidentally breaks a customer’s computer while performing their duties, the policy could help cover the damage costs. Some policies also cover claims arising from subcontractors working for the business.

Why is general liability insurance essential?

General liability insurance is an essential tool for shielding businesses from costly claims. Even the most careful businesses may inadvertently cause injury or damage, leading to claims. General liability coverage ensures companies can continue operating while navigating the legal process, thus preventing bankruptcy and financial ruin.

How much general liability insurance do you need?

The amount of general liability insurance needed would depend on the size of your business, industry type, and risks associated with your company. One million dollars can be enough coverage for small businesses, while larger entities may need more.

All businesses in Elmer, NJ are vulnerable to claims regardless of their operation size. Protecting your business from such claims is essential to avoid financial ruin. Contact Sloan Insurance Agency today to get the coverage you need.