PROTECTING WHAT’S IMPORTANT
INSURANCE IN SOUTH CAROLINA
Change is a part of life. As your life and business change, you need insurance that changes with you. TAiG specializes in creating insurance strategies for individuals and businesses in South Carolina, including West Columbia, Irmo, Lexington, Chapin, and surrounding areas.
The Value of General Liability Insurance
Welcome back to our blog page here at the Alexander Insurance Group, Columbia’s Top Rated Local® insurance company. No matter if we’re helping people with their personal insurance, assisting local businesses with their commercial insurance, or protecting online assets with our cybersecurity insurance, we’re always going to do everything we can to help the people of our community with their insurance needs.
With so many amazing insurance services, it’s no wonder that the people here in Columbia look to Alexander Insurance for everything from homeowner’s insurance to cybersecurity insurance to workers’ compensation. To discuss your insurance needs with one of our insurance company experts, reach out to us at The Alexander Insurance Group today!
In this day and age, people are required to carry all kinds of insurance. We are required to have health insurance, car insurance, homeowner’s insurance, and even more. When it comes to business owners, there are a number of extra insurance requirements on their shoulders. Large and small businesses alike are required to take out commercial insurance. If they’re smart, they’ll do everything they can to protect their business from being vulnerable and susceptible to losing money, valuable business, or a good reputation.
Though there are many different kinds of commercial insurance to consider, there might be few types quite as valuable as general liability insurance. In today’s blog, we’re going to explore what general liability insurance is and why it’s so important for businesses to carry. Stay tuned to learn more!
What is General Liability Insurance?
General liability insurance is a special type of insurance that business owners can take out to protect them from lawsuits or claims made by customers, employees, former employees, etc. General liability allows for any of these civil claims or suits so that they don’t bankrupt the company or damage their business model in any way.
Situations in Which General Liability is Needed
There are many situations in which a business owner will be extremely thankful that they took out a general liability policy. Here are a few examples:
- Bodily Injury or Accidents on the Business Premises – If a person is injured on your property and they decide to file a lawsuit against your business, you’ll be covered.
- Damage to Business Premises – If your building or the buildings around it are damaged, you’ll be covered in the event that your landlord or neighbor sues you.
- Advertising Errors – Advertising can sometimes be tricky and if a person feels that copyright infringement or false advertising took place, your business will be covered if they decide to file a lawsuit.
- Reputation Damage – If a competitor feels that your business besmirched their reputation and they decide to sue you, your business will be protected by general liability insurance.
As you can see, general liability is not simply a type of insurance that only big businesses should get; smaller businesses are almost more vulnerable because they’ll have less of a cushion in the event that they are taken to court over a dispute of some kind or they choose to settle out of court.