General Liability Insurance—We Mean Business
At Thomas Ward Insurance Group, we mean business when it comes to protecting your business. With general liability insurance, we’ll keep your dream from turning into a nightmare.
General Liability Insurance at Work
You’ve spent years working on the dream of creating your own business…borrowing funds, planning your marketing strategy, building your workspace, hiring employees. Your heart, soul, and most of your money is tied up in this undertaking. But it’s been well worth it.
And then last month, a client walked through your front door, tripped on a rug, fell, and hit his head. And now he’s suing you for medical expenses, lost wages, legal fees, and more.
Without adequate general liability insurance, all that you’ve worked for could simply disappear.
The Cost of Doing Business Increases Without General Liability
General liability insurance is as essential to your business as your computer or your desk and chair. And while you think that this is something you might be able to skip because yours is not a high-risk business, you might want to think again.
The fact is that no matter what your business, accidents do happen. When you compare the relatively low price of general liability coverage to millions of dollars in legal fees and court costs should someone make a claim against you, it seems like the wisest choice. In our litigious society, it is simply the cost of doing business.
General liability insurance covers:
- Costs of defense: General liability covers the cost of investigating a claim, attorney fees, court costs, witness fees, and defending you against a lawsuit.
- Court order judgments: In the event the injured party prevails, general liability insurance will cover the cost of a judgment including compensatory damages, nonmonetary losses suffered by the injured party, and punitive damages. If the case doesn’t reach court, it will cover the cost of a settlement.
- Medical expenses: This insurance will compensate the injured party for immediate medical expenses they may sustain as a result of the injury.
- Property damage: General liability insurance will cover the costs of repairing or replacing the injured party’s damaged property.
The Right Choice for You—Request a Free Quote Today
There are several factors that will determine how much coverage you’ll need to protect your business:
- Type of business: If you’re running a Tae Kwon Do studio there’s likely more perceived risk and potential for injury than if you’re operating an accounting firm.
- Business location: If you live in a state where large damage awards to plaintiffs are the trend, this will impact your premium.
If your business has a lower risk, it’s possible that a business owners policy (BOP) that bundles liability with property insurance may be the right choice for you. It’s important to discuss your needs with a qualified insurance professional, like the team at Thomas Ward Insurance Group. Call 312.254.1500 today to get a quote or email our agents for further information.