General Liability Insurance Basics

If you need general liability insurance, you’ll need to know general liability insurance basics. If television content is any indication, everybody seems to love courtroom dramas. Whether it comes in the form of prime time drama shows, high profile and celebrity divorce cases in the new, or made-for-TV small claims court, people just can’t seem to get enough of the stuff. Naturally, while getting sued yourself can be quite a drama – it isn’t quite as enjoyable.

That’s where liability insurance comes into the picture. This type of insurance guards a person or a company from the risk that they might be sued and held legally liable for something they’ve done wrong, or someone believes they’ve done wrong. Possible wrongs may include medical malpractice, injury or property damage allegedly caused by you or your business, and professional or personal negligence. If you operate a business or consultancy, make sure you identify the types of coverage you may need as a basic general liability policy may not cover all your risks.

Liability polices encompass both the legal costs and the monetary payouts for which the insured person or company would be responsible, if found legally liable by a Court. Without an appropriate liability policy in place, you or your company would be forced to pay any amounts awarded against you and that is likely to place your assets at risk. Unlike TV, where everything turns out for the best, the consequences of a law suit could be serious.

If you need liability insurance coverage, call us now for a quote.

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