Why Commercial Insurance is Important to Your Business
Commercial Insurance in Houston
If you have Business Property, Commercial Auto, and Workers’ Compensation insurance solutions in place, you may be thinking that you’ve got all the important stuff covered – buildings and their contents, customers, and employees – with your current policies.
The liability coverage you will need depends on the type of business you are and the perceived risk associated with it. Also, it’s valuable for business owners like you to know that there are many nuances to liability insurance and requirements can change based on specific contracts, projects, or situations. That is why this form of coverage requires help from an experienced team of insurance professionals, and, as important, ones that are local and familiar with the business environment in your area.
Commercial General Liability (CGL)
Even in today’s age of technology and virtual everything, there aren’t many people, if any, who can make a living with no human interaction. Whether it’s with employees, contractors, customers, vendors, or others, you can’t do business without relationships, communication, and transactions. This is exactly the reason you should prioritize having Commercial General Liability insurance coverage in place. Any one of these individuals or other companies could claim that your business, your employees, your services, or your products caused them injury or loss. And we all know what usually comes next – legal action.
While it may be difficult to imagine this ever happening to you or your company, here are just some of the scenarios that businesses can be held legally responsible for:
- A customer or visitor who gets injured while on your business property
- A liquor-related incident that happens at a company picnic or office holiday party
- An office fire that does damage to another company’s property
- A wrongful eviction
- A copyright infringement, copying another company’s style of doing business, or using similar advertising concepts
Whether you need to defend yourself against claims of property damage, bodily injury, libel, or slander, your CGL policy is designed to cover you for many of the associated costs, such as medical and legal expenses, compensatory and punitive damages, and attorney fees.
Source: icne
Commercial Insurance in Houston
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