When opening up a business, it is important to consider all the possible risks you may end up facing. One very serious risk that many businesses run into at some point is a liability issue. Liability issues arise when someone who visits your business, whether they are a customer, competitor, or employee, gets injured or is on the receiving end of damages of some sort and decides to sue. What follows is usually a lengthy legal battle where you may or may not be found liable. Regardless, you’ll be out of a lot of money. Luckily, general liablity insurance can help.
What Is General Liability Insurance?
General liability insurance is a type of insurance coverage that can protect you and your business from liability issues across the board. It can cover a variety of costs associated with liability issues, including medical bills, legal costs, repair/replacement costs, and more.
How Much Does General Liability Insurance Cost?
Unfortunately, it is difficult to specify a price for general liability insurance as the cost is very business-specific and is impacted by a number of factors. Some of the factors that come into play are:
- Your location
- Your claim history
- Your coverage needs
- The size of your business
Running a business can be risky. General liability insurance can help.