Why Your Start-Up Needs General Liability Insurance

Don’t let liability issues derail your start-up; protect your company with the right general liability Why Your Start-Up Needs General Liability Insuranceinsurance.

If you are operating a start-up business, you have likely invested a considerable amount of money, time, and effort to get your company off the ground. Unfortunately, a single liability issue is all it takes to bring your business toppling down. Some of the most common liability issues that businesses face are those that are classified as general liability. Fortunately, you can secure the protection that your start-up needs with the right general liability insurance. Here’s what you need to know about this type of coverage.

What is general liability insurance?

General liability insurance is the most basic type of commercial liability coverage. Often referred to as “slip and fall insurance,” general liability policies offer coverage for the small accidents and injuries that take place on your business’s premises. General liability insurance provides two major types of coverage: property damage and bodily injury.

  • Property Damage – This offers coverage if you or one of your employees accidentally cause damage to a third-party’s property. For instance, if you accidentally backed a company vehicle into a customer’s fence, your property damage coverage would pay for their repairs.
  • Bodily Injury– This offers coverage for the injuries that you or your employees might accidentally cause during the course of your professional duties. Additionally, bodily injury liability will offer coverage if third parties injure themselves while on your business’s property. This coverage will pay for the medical treatment that affected parties may require as a result of your negligence or oversight.

Why do I need it?

General liability insurance is arguably the most important commercial coverage out there, and insurance experts recommend securing this coverage as soon as you establish your start-up. Having this coverage will ensure that small liability issues don’t bankrupt your business before it even has a chance to get off the ground. As an added incentive, many commercial spaces will not even let you sign a lease until you have a certain amount of general liability coverage in place. So, to protect your business and set it up for a successful future, make sure you secure general liability insurance as soon as possible.

This is why your start-up needs the protection that only the right general liability insurance can provide.  Do you have further questions regarding your business insurance options?  If so, contact the professionals at VGW Walker Insurance in Texas.  Our expert team is ready to get you the coverage that you need today.