A general business liability insurance is one of those key insurance solutions offered by insurance agencies in Houston, including Boardwalk Insurance, that small businesses cannot do without. At first glance, it may seem that a business liability insurance or commercial liability insurance, as it is also called, is for large businesses only, and that small businesses could spend their small budgets on other things. That cannot be farther from the truth. Like any type of business, small business is risky, and without adequate coverage, the small business owner can find himself or herself in some really bad situations involving property damage, bodily injury, or out-of-court settlements.
General Business Liability – Essential Business Coverage
That’s where general business liability insurance comes in. This comprehensive insurance solution protects a small business owner as well as his or her employees from bodily injury or property damage claims made by customers. Regardless of the type of the business in question, such claims are inevitable over time, and often result in litigation and settlements which can cost a business thousands of dollars in attorney expenses, medical expenses, and out-of-court settlements. Any of these can destabilize a small business and put the owner in the unpleasant situation of having to pay money out of pocket or even to have recourse to loans to pay off expenses.
Furthermore, general liability insurance protects a business from what is dubbed in insurance jargon ‘advertising injury’, and which can include accidental copyright infringement through a marketing campaign or event. More than financial security, a general business liability insurance brings a small business owner peace of mind — should an accident involving his or her property or products occur, the policy bears the brunt of the consequences.
What Coverage a Small Business Needs
It is important to understand, however, that business liability insurance isn’t the only type of insurance a small business needs to be well covered from accidents and other unpleasant occurrences involving customers, employees, and business property. For protection against auto accidents, a small business needs business auto insurance. Car body shops, repair shops, or cleaners, as well as any other business that stores customer cars’ on its premises needs garage liability insurance and garage keepers insurance. Employee injuries, on the other hand, are covered by a workers’ compensation.
As you can see, business liability insurance is essential for any business. But other types of insurance are also necessary. At Boardwalk Insurance, we are an insurance agency in Houston that offers a complete range of business insurance policies to fully protect small business owners from unfortunate occurrences, including garage liability insurance, garage keepers insurance, commercial liability insurance, business auto insurance, professional liability insurance, and more. To find out more about our comprehensive small business coverage, don’t hesitate to contact us.