All businesses need to have some form of general liability insurance. General liability insurance will protect you and your business if claims are brought against you. There are a lot of different ways general liability insurance can give you coverage, this is why you need to know as much as possible to decide what is right for you. 

When Should You Purchase General Liability Insurance?

A business will need to purchase general liability insurance when it opens. Once you have established and registered your business you will need to get some form of general liability insurance for it. In most cases, it will be required by law. General liability insurance not only protects your business it also protects your employees as well. 

What Will General Liability Insurance Cover?

General liability insurance will cover any bodily injuries that may happen to your employees or your customers. It will help to pay for any medical expenses incurred due to bodily harm. 

Another good thing about general liability insurance is that it will also help to protect your business in case you damage someone's property while working there. For example, if you are working on someone's property and you accidentally break furniture or even a window your insurance will cover the repairs.

Perhaps the biggest benefit of general liability insurance is that it will protect your business in case you get sued. Bear in mind that the best thing you can do for your business is to get it fully registered as a limited liability company and separate your personal and business assets. Once you have done this you should get general liability coverage, since this will protect your personal finances if you get sued.

What Won't General Liability Insurance Cover?

There's little doubt that general liability insurance is a good way to cover your business. However, there are some things that it will not cover. It will not cover damages to your own business property. It will also not cover any illegal activities that you may have done on purpose. If you have a claim that is more than your liability coverage limits it will also not cover this for you.

While there are some limitations on general liability insurance, it's a great place to start if you have a business. Getting insurance coverage is critical not just because it is often required by law but because it provides a cushion for any of the pitfalls that can occur at any time when you run a business. It's always better to be safe than sorry.

For more information on general liability insurance coverage, contact a professional near you.