A general liability insurance policy could help a business stay afloat even if it causes bodily injury to a customer, client, or bystander. These incidents typically include slips and falls, but can also include a customer tripping over a contractor’s tools or something similar. In the event that a personal injury claim is filed against a small business, the general liability policy will cover the individual’s medical expenses, ensuring that the business does not incur these high costs.
In addition to bodily injury, professional liability insurance covers claims related to property damage. If an employee causes an accident resulting in property damage, such as a broken window in a client’s home, the policy will cover the repair costs.
Finally, general liability insurance covers legal costs related to bodily injury and publicity damage. If a business sues another business for slander, defamation, or copyright infringement, the insured can breathe easy knowing that all defense costs and settlements will be properly handled.
Just as important as noting what is covered by general liability insurance, it is equally important to recognize what is not covered. Professional liability insurance does not cover employee injuries, car accidents, punitive damages, intentional acts or employee errors. If policyholders have questions about what is covered (or not) by their insurance, they should discuss this with their insurance company.
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