Share:

When it comes to protecting your small business venture, there’s nothing more effective than investing in the proper insurance coverage. While several different policies cater to the commercial market, one of the most basic and important ones is general liability insurance. This is designed to keep your finances intact and allows your business to remain operable should a lawsuit be brought against you. According to Phillip Kent Beck Agency, who serves business owners throughout Archdale and High Point, NC, having this kind of coverage is critical to any company’s risk management plan.

small business

If you’re still trying to decide whether or not you need general liability insurance, it may help to understand exactly how it can preserve the well-being of your small business. First, it will provide you with coverage if a third party is injured while on your company’s property or in an incident involving one of your employees. Second, it compensates for property damages caused to someone else’s property at the hand of your business operations. It may also help you avoid being sued by automatically covering the injured party’s medical payments. However, if you are sued, your liability coverage will pay your legal fees as well.

Additionally, your small business insurance policy will protect your company against claims of personal injury, which refers to situations involving slander, libel, copyright infringement, or any other kind of false or misleading advertisement. Finally, if you rent your business space, your liability coverage will bear the cost of any damages you or employees cause to the property as tenants.

Because there is always the potential for mistakes to happen and life to take a turn in the wrong direction, it is never advisable for any small business to continue to operate without adequate general liability insurance. For a nominal amount, it will offer you invaluable peace of mind. Contact Phillip Kent Beck Agency at (336) 434-2111, or visit them online to request an insurance quote. 

tracking