Being found liable for an incident that led to losses and damages can have a significant impact on your organization’s finances and future. Even if your company is diligent in its safety measures and precautions, accidents and errors could be inevitable. One of the most essential parts of effective loss control and risk management practices is having adequate insurance coverage. A general liability insurance policy can be invaluable when responding to liability issues.

The insurance experts at Texas Risk Solutions are dedicated to helping businesses in New Braunfels and the San Antonio area acquire and maintain optimal general liability coverage.

Who Needs General Liability Insurance?

Regardless of size or industry, general liability insurance should be strongly considered. These policies cast a wide safety net across many common incidents. This type of insurance may be of particular importance if your business’s operations consist of the following:

·        Welcoming guests, clients and other outside parties to your premises

·        Taking possession or responsibility of the others’ property

·        Performing off-site professional services

·        Using social media

·        Marketing and advertising

·        Bidding on contracts

What Does General Liability Insurance Cover?

As its name may suggest, general liability insurance, also known as business liability or commercial general liability insurance, can protect your business from losses and damages arising from many incidents. In general, most policies will render financial assistance in response to the following situations:

·        Bodily injury—This coverage can insulate you from damages if you are responsible for a third party’s injury by paying for various expenses, including medical care and lost income.

·        Property damage—This coverage can help pay for repairs or replacement costs if your business is liable for another party’s property damage.

·        Personal and advertising injury—If your business is responsible for personal and advertising injury, such as slander, libel, violation of privacy or copyright infringement, this coverage can provide financial aid.

·        Lawsuits—This coverage can help pay for various legal expenses, including representation, if your business is sued.

How Much Does General Liability Insurance Cost?

Insurance providers must consider several criteria of your business before being able to provide a quote for general liability insurance. In most cases, the following factors will be considered:

·        Operations

·        Location

·        Age

·        Workforce size

·        Claims history

·        Policy details (e.g., deductibles, coverage limits)

Get the Right Coverage

Having adequate insurance coverage is a crucial part of protecting your business’s finances and securing its future. Incidents for which your business is found liable can lead to catastrophic consequences that could completely derail your company’s mission.

The agents at Texas Risk Solutions are ready to help. We will work with you to understand your business and tailor a policy suitable for your coverage needs. Contact us today to get started.