The Basics of Business Liability Insurance: Why You Should Buy This Policy

The Basics of Business Liability Insurance: Why You Should This PolicyYou purchase insurance to protect you against the risks that your business may face, but what if your business is the reason you need insurance?

If you own a business, you know the many dangers that face your business: fires, theft, storm damage, floods, etc. This is why you purchase a business insurance policy. There are times, however, when your business is the cause of damage, almost as if inflicting harm onto itself—and directly onto you, as a result. To protect yourself against these damages, general liability insurance is something that you need to invest in—especially in this culture that loves its lawsuits.

“Whatever can happen, will happen (–given infinite time).” This is Murphy’s Law. While not always indicating that something bad will happen, it’s a lot easier for something bad to happen than for something to not happen at all. Your business can be sued for damages suffered because of faulty equipment, or if work was done improperly. Your clients expect a standard of goods/services, and if you don’t deliver they could choose to sue you.

It also helps protect your employees should they cause injury to someone else while working. Their medical bills and lost wages are covered, and you save yourself and your employee a hefty lawsuit.

Your business can also be sued if you don’t follow the environmental standard. If your business emits too many pollutants that damage the environment, you could see a lawsuit with your name on it (ironically, written on paper). Liability coverage protects your business from this, too.

Don’t be caught off-guard when it comes to your business. For all of your business insurance needs as a Texas business owner, contact VGW Walker Insurance in Austin. As an independent insurance agency, we will work with you to ensure you have the right amount of protection for your specific needs, all at the right price to fit your budget.