Not sure you need insurance coverage for your small business? Think again! You might be putting yourself at risk by not having a policy. Take a look at these four signs you need general liability coverage and make a determination for yourself.
Sign #1: You Have a Physical Location Visited by Customers
Anytime you have customers that physically visit your brick-and-mortar location, there’s a chance you could have a lawsuit. Think about it… What happens if a client slips, falls, and breaks an arm? They might have significant medical bills or income losses. With a general liability insurance policy, their medical bills and any potential lawsuits would get taken care of on your behalf. Therefore, it's critical protection for the business.
Sign #2: Your Business Uses Social Media as a Regular Marketing Tool
If your company uses social media as a regular marketing tool, you also need a general liability insurance policy. In an age where it's common to become offended and file a court case, it is so easy to accidentally cause an issue that leads to a slander or libel lawsuit. Instead, make sure you have appropriate coverage ahead of time as an added layer of protection. Keep in mind, you'll need to verify whether your policy includes personal injury protection.
Sign #3: Your Customers Require General Liability Coverage
Does your company regularly work with large corporations? Your customers might require that you have a general liability insurance policy. In some cases, you might even have to show proof of coverage to submit a bid for a large project or sign a contract. Do yourself a favor and have this in place before you actually need it.
Sign #4: Your Needs Have Changed Since the Last Time You Met with Your Agent
Of course, maybe you already have general liability insurance coverage but aren’t sure if you need more. If your company has grown or made major changes since the last time you spoke with your agent, it might be time for a risk review and possibly an increase in coverage.
While these are just a few brief reasons to purchase general liability insurance, the process is still often easy. Schedule an appointment with your commercial insurance agent today for details.
Call Johl & Company at (201) 664-2973 for more information on general liability insurance.