Good insurance coverage is an important part of planning your business’ success. When you take out insurance, you’re insuring against things that can go wrong. The insurance company that accepts your policy is betting that things will go right. The reason that it works is that for most businesses, most of the time, things do go right. If you have a casualty, though, your choices of insurance coverage and carrier can make the difference between losing the business, just scraping by or being able to do business as usual.
General liability coverage will pay for damage and injuries to your customers, tenants, delivery people and any others who might be hurt or have their property damaged while at your business. These could include injury, accident, defective products and other claims such as libel and false advertising. Make sure that you have at least a million dollars worth of liability coverage and make certain that your legal defense costs are included in the policy.