Real-life Scenarios When General Liability Insurance is Critical

As a business, you must prioritize risk management and loss control measures. Unfortunately, even the most careful and meticulous companies may be unable to avoid all incidents, and situations in which you are liable for other parties’ losses may be particularly consequential. Fortunately, general liability insurance can provide a robust financial shield in the aftermath of such events.

How Can General Liability Insurance Help My Business?

At Wilkinson Insurance Agency, a key part of our mission is helping businesses in the White House, TN, area understand and address their coverage needs. This includes helping your organization realize the importance of various types of insurance, such as general liability insurance. Consider the following real-life situations that may necessitate this form of coverage and demonstrate the importance of having the right policy:

• Bodily injuries—Think about the potential ramifications of a customer or guest visiting your business’s premises and suffering injuries. Wet surfaces or cluttered walkways could easily lead to slips or trips, and resulting falls could result in significant medical bills for which your company could be held responsible. Fortunately, general liability insurance could offset these losses.
• Property damage—If your business or employees are at fault for incidents that affect other parties’ property, resulting ramifications could destabilize your finances and future. Consider the possibility of an employee accidentally starting a fire or leaving the water running. Should a neighboring property suffer damage, general liability insurance may be vital in allowing you to manage the aftermath, such as repair costs, legal fees and settlements.
• Personal and advertising injuries—In the modern business world, many communications are conducted online or electronically. Many companies commonly use social media, marketing and advertising, and online reviews. However, if your business is accused of slander, libel or false advertising, theft resulting lawsuits could be devastating. As such, general liability coverage may help to offset the potential legal costs and losses.

We’re Here to Help

Contact Wilkinson Insurance Agency today to learn more about general liability insurance or get a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.