Even the most careful startups and small businesses run the risk of injuring or damaging someone or something during the course of ordinary operations. General Liability Insurance protects your business assets in the event of a costly lawsuit so that you don’t have to drain your bank account or sell your equipment to fund legal fees and court settlements.

General Liability Insurance even protects businesses if the lawsuit in question is without merit, which is good news for small-business owners. Even without a judgment or settlement, the cost of mounting a legal defense can quickly climb into the tens of thousands of dollars. If you don’t have general liability coverage and you don’t keep that kind of cash on reserve, the cost of defending yourself could put you out of business.

Commercial General Liability coverage kicks in when your business is faced with a lawsuit alleging bodily injury or property damage.

For example, someone might claim that your business…

  • Created an unsafe environment where someone was injured.
  • Damaged personal property.
  • Is responsible for an injury caused by you or one of your employees.

It’s important to note that General Liability Insurance protects your business against claims brought against the company as a whole, as well as claims brought against individuals on the company’s behalf. When a lawsuit commences, your General Liability policy covers the costs of investigating or defending those claims, which might include paying attorney fees, witness fees, court expenses, and more.

Up to stated limits, commercial liability policies may also cover bond premiums, settlements, and judgments arising from covered lawsuits, including the medical costs for someone suing about an injury.

If it includes business interruption coverage, your policy may also pay for the income you lose while defending yourself in court, along with certain other expenses you may incur to return your business to normal operations.

Philip Financial Group would love to hear from you. Let us help you put the pieces of the puzzle together. Please feel free to call us today at 239.461.0001 or contact us using the form below:

    Your Name (required)

    Your Email (required)


    Your Message