Why You Should Get General Liability Insurance in Alabama
Getting General Liability Insurance will give you peace of mind. It can help protect you from petty issues and give you the time to focus on growing your business. Moreover, it is sometimes required by commercial leases. Landlords often request a copy of a general liability insurance certificate as proof of your financial protection. You may be surprised to find that a simple policy can save you a lot of money! Listed below are just a few reasons why you should get it: click to know more 50collegewire.com
First of all, you should know that many factors influence the cost of general liability insurance. You should know that this insurance is not the same as liability insurance for autos. For instance, you might want to insure your building from fire and lightning. A general liability insurance policy will also protect you from lawsuits for injuries. Another important factor to consider is the coverage limits. While general liability insurance is inexpensive, it is still important to check the limits of your policy.
The amount of coverage you need depends on the type of business and product you’re selling. In Alabama, you should get between $500-$1 million of coverage for your business. You may want to increase this amount if you are operating a higher-risk business. You may also want to get umbrella insurance, which can boost your other insurance policies and even cover the value of your building. If you operate a home-based business, you can purchase a general liability policy for a lower cost.
It’s very important to have general liability insurance in case of accidents. Accidents are a part of life and may affect your business. General liability insurance can protect you and your employees in case of an accident or injury. If you’re not covered, you may risk losing clients or a business. In some cases, you’ll need hired auto insurance for peace of mind. If you’re unsure, contact Alliance Insurance Group. They can shop around for the best policy for your business.
In addition to bodily injury and property damage, you can also opt for property damage liability insurance. It will cover the costs of medical treatment for anyone injured on your property while they’re visiting your business. Besides these, general liability insurance can protect you from advertising mistakes. It also protects your business from lawsuits. It’s not uncommon for people to get hurt at your store or office. So, even if you don’t intend to make any money, you should be safe.
Without General Liability Insurance, lawsuits can be expensive and time-consuming. Legal counsel may charge more than $100 an hour, and court costs may top $75,000 if the case proceeds to trial. Even if the lawsuit is dropped, the cost can add up to several thousand dollars. Without this coverage, your business could end up in the hospital for several months or even years due to financial hardship. You can’t afford to be caught without this insurance coverage.