Liability Insurance For The Small Or Large Business Owner
Being taken to court by a consumer could result in many legal fees. General liability insurance protects small and large business owners. The following guidelines will outline what a general policy will cover and what it won't cover.
Injuries And Damages
If you are held liable for a commercial incident, you are legally responsible. You may be somewhat aware of the fact that liability insurance will protect against injuries and damages that a consumer incurs on your business property, but not realize that it will also cover incidents that do not necessarily take place on the premises.
For instance, if you have service technicians who visit consumers' homes to make repairs or installations, there is always the possibility that an injury to a customer or damage to their property could occur. General liability insurance will provide coverage for the entire duration that a technician is on a service call. If an injury or damage were to occur, the insurance coverage will pay for medical costs, replacement materials, and any cleaning processes that must be performed at the site where an incident took place.
Defamation And Copyright Infringements
If you use billboards, paper advertisements, and other marketing materials, you could offend a competitor if you are using marketing materials that are aimed at hurting the business owner. This could result in an individual filing a defamation case against you.
As long as you have active liability insurance coverage, legal costs and fees that you are ordered to pay the plaintiff will be covered. If you use someone else's work, either while advertising or manufacturing and selling goods, you could be sued for copyright infringement. General liability insurance will cover an infringement claim.
Exclusions
Claims that exceed your policy limit will not be covered by your insurance coverage. You would be responsible for all overages, including legal fees, medical expenses, or any other incidental costs that are a direct result of being sued. An umbrella policy can be obtained and this will cover additional costs.
General liability insurance will not provide coverage for any damage to your property or any injuries to your employees. It will also not protect against any errors that are made while rendering services to your customers. Since all of the situations that are not protected by general liability insurance could result in being sued, you will be best equipped by purchasing specialized insurance coverage for each of them.
For more information, reach out to a company such as Contractors Insurance.
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