Shall I ask it somewhat differently? If you had been running
a business for a while, and you are lucky enough to scrape through without any
controversy, or perhaps, never faced the prospects of a lawsuit, now is your
time to wrap up your business with a cover. Not many businesses these days are blessed.
It has become a routine for commercial establishments to come up against
damages, and lawsuits have become more prevalent. The best way, therefore, should be to get
under the garb of general liability insurance.
Business houses should know that if, on one, hand, the insurance could be a perfect way to
get protected from damages, on the other hand, there are several instances,
when your business might not get the protection you seek for. Learn the finer
details of insurance, before you turn the pages to explore the quotes for general liability.
1.
The general liability insurance doesn’t insure
you against professional mistakes that you may do. The general insurance
doesn’t really help a company that has a service oriented framework. For
instance, if your business runs a consultancy services, and your opinion or
advice, causes damage to your client, and then your client flies a lawsuit
against your firm. In such circumstances, the general liability insurance would
not come to your rescue.
2.
What happens when an employee working for your
business is injured while performing chores? The general liability insurance
will not be able to protect your employee or your business. The general insurance
is typically a broad insurance, and conditions such as these will have to be met
by a separate insurance cover.
3.
What happens if you hit your car while on your
way to a highly important business meeting? If you believe that the general
liability insurance will protect you against damage arising out of your car
accidents, you are mistaken. The general insurance will not be enough; you will
have to buy separate auto insurance coverage against such damages.
4.
One also needs to understand that general
liability insurance doesn’t provide protection arising out of a client’s lawsuit
if an employee gets into a fight with one or more of the firm’s clients. The
business needs separate insurance cover for such acts.
5.
What if your company’s product injures or harms
a customer and the customer, in turn, comes up with a lawsuit against your
company? The general liability insurance will not protect from damages arising
out of such lawsuits. There’s a separate insurance cover called, product
liability insurance cover, which will be needed for protection from such
damages.
Author- Danny Liew
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