General liability (G/L) insurance protects business owners from a variety of negative possibilities at they relate to lawsuits. Some businesses may be adequately covered by other insurance, while other businesses may require additional coverage in order to be sufficiently protected. As a business owner, it’s important to have the minimum amount of insurance to cover business necessities.

G/L is meant to cover and protect business owners or operators for many different circumstances. Some of these situations may include accidents that occur on the business premises, incidents that occur from using a product sold by the business, as well as covering any contractual liability. For example, general liability insurance may protect the business if someone slips, falls or trips on the business property. The insurance can pay for the cost of the injury as well as protect the business owner from financial ruin. It basically covers any events in which the business owner is sued for something that happened as a result of a person's dealing with the business.

G/L covers not only the business owner in the case of someone suing the business, but also protects others that are on the premises or otherwise have contact with the business. General liability insurance protects customers, suppliers, delivery people, vendors and visitors to the business property. Basic general liability insurances coverage includes bodily injury or damage that occurs at the covered business as a result of an employees negligence. Therefore, it’s important that a business owner has at least the minimum required amount of general liability insurance.

Most companies recommend that owners carry at least one million dollars in general liability insurance coverage for each business they own. Experts say that in our litigious society, two to three million dollars in general liability insurances is even better. While some business owners may think they cannot afford such a great amount of insurance, maintaining more than one million in coverage is not that much more expensive. Adding one to two million dollars in general liability coverage does not double or triple the price; thereby making it relatively more affordable for even the smaller business owners and operators.

G/L insurance is a fundamental need of a business, regardless of size. Business owners need to protect themselves, as well as to protect those who will be on their business property, or using their product. Therefore, general liability insurance is necessary and is more affordable that many business owners may think.

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