Chances are you already know that protecting your business with liability insurance is a good idea. What you may not know is that liability insurance can be the key to growing your company in the future. Insurance is more than just a layer of protection – it’s an asset to you and your company!
As a business owner, you control and oversee every aspect of your operation. You also know that accidents happen and sometimes there is nothing you can do to stop them from happening. General liability insurance can mitigate the fallout from an accident and allow you to get back to the work at hand faster.
If your company involves placing bids on large contracts, having a great liability policy in place puts you ahead of the competition that does not have a policy in place. It’s easier to close a contract and get to work when you already fulfill all the client’s requirements!
Many general liability policies in the 21st century provide coverage in the case of a data breach. Having a provision for data liability means you will be covered if you suffer a malicious or inadvertent data breach that puts you, your files, and your customers at risk. If your policy doesn’t cover data breaches, add a cyber liability policy today!
The most obvious benefit is that if you meet face-to-face with clients regularly, you will be covered if an injury occurs on your property. Liability insurance is all about injury protection and having someone else shouldering the financial burden of covering injury costs means that your business will not suffer a devastating financial blow in the event of an unfortunate accident.
Finally, general liability can cover against employee actions. You can do your best to hire the best staff you can, but sometimes people go a little too far. Dealing with slander, injury claims, or other serious incidents can be covered by your general liability policy. Sometimes these actions require a special provision in the form of personal liability coverage, but policies like that are easy to add.
General liability may not be required by law, but it is an absolute necessity for any business that might run into unintended accidents. Control what you can and let insurance cover the rest!
21719 Harper Ave, Ste. E
St. Clair Shores, MI