Figuring out Which Liability Insurance Policy Is the Right Fit for Your Business

Operating a business comes with a lot of risks. You have to be prepared for multiple scenarios that may arise. Liability insurance protects your investment when you are dealing with a potential liability issue. Here’s a guide to help you figure out the right liability policy for your needs.

As you research general liability insurance in Houston, TX, remember that every business is unique. If you have a contract, you may be obligated to purchase liability insurance to a specific limit.

Types of Business Liability Insurance

Commercial property insurance covers your business if your property has been stolen or vandalized. This policy is a good safety net to rely on if your property is damaged due to an accidental fire or a tornado passes through the Houston, TX area and causes damage to your property.

Business liability insurance protects you against the financial risks associated with someone filing a claim or lawsuit against your business. In today’s climate, you can get sued for anything. Business liability insurance allows you to handle the issues while you have a sense of security.

General liability insurance is ideal for most businesses. You are covered against claims related to damaging someone’s property or causing a bodily injury. You are also covered against personal claims and lawsuits.

How Much Coverage Does Your Business Need?

If you sell or manufacture a product, there are certain inherent risks. First of all, you have to protect yourself against possible legal action. Luckily, liability insurance will cover your defense costs if a potential dispute arises. You will also need protection in the event of:

  • Severe Injury Claims

    If a customer or vendor visits your facility and suffers an injury, they may file a claim. Your general liability insurance policy will cover the damages and potential medical bills. Your policy should have enough coverage to protect your business if someone files a high-value bodily injury claim.

  • Legal Fees

    You may be sued even if the lawsuit doesn’t have merit. You’ll need a strong attorney to represent you in these matters. Your general liability policy will handle the court costs.

  • Medical Payments

    General liability policies protect your business by covering any medical treatment for an injured employee or visitor, including rehab. As a result, your assets won’t be at risk.

  • Property Damage

    If one of your employees accidentally damages someone else’s property, your business will be held liable. Luckily, your business liability insurance will cover the damages and ensure that your employees are protected even as they do off-site work.

  • Advertising Issues

    You can be sued if another party believes that you used their image without permission or if you engaged in false advertising. Liability insurance will cover you against such claims.

  • Potential Libel or Slander

    Your business may be at risk if someone alleges that you or one of your employees damaged their career due to slander or defamation of character. However, with the right liability insurance, your business will be covered against such claims.

Consult with Our Experts at J. Archer Insurance Group

As you research general liability insurance in Houston, TX, find a policy that provides the most coverage while staying within your budget. Our experts at J. Archer Insurance Group can help you find the right policy to protect your investment. Contact us today to learn more!

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