Accidents happen and when they do, a well-written general liability insurance policy will come to the rescue for business owners facing a liability lawsuit.
Unfortunately, many business owners scrimp on their liability insurance, falling prey to the idea that “it won’t happen to them.”
Instead of risking not having enough coverage, business owners must purchase the coverage they need from experienced insurance agents who can help them understand just what can happen when even the simplest of accidents occurs.
What Happens When A Minor Accident Is Not So Minor?
While most business owners purchase general liability insurance thinking about the major accidents that could happen on their premises, these are often not the events that cost them the most money.
The possibility of a seemingly minor accident like someone tripping and falling on the property is much greater.
Those initially minor accidents often turn into more significant circumstances when someone sustains serious injuries.
Insurance agents often see lawsuits that result from innocent accidents becoming devastating financial liabilities for business owners.
With the right liability insurance in the right amounts, even small businesses can be protected from this possibility.
How Can Business Owners Be Protected Against Accident Liability?
Protecting any business from liability due to an accident involves having enough liability insurance to cover the potential losses.
The key to having enough coverage is properly estimating the types of financial losses a business owner could face.
This is why every business owner should plan out their liability coverage with an insurance agent who is experienced in helping small business owners understand just how much coverage is actually enough.
With the ways that medical costs keep rising every year, that figure is likely to be considerably more than owners might guess.
Watch and Learn How Minor Accidents Can Escalate
Chris Hurt, a partner at Service Insurance Group, explains how what may seem like a minor accident can take a serious turn that requires high levels of general liability insurance in this video.
Protect Small Businesses With Ample General Liability Insurance
A broad general liability insurance policy is essential coverage that every small business needs.
Accidents can and do happen and can be more serious than anyone might ever expect, resulting in large financial losses to the property owner.
With enough liability coverage from a local insurance company, business owners can have peace of mind knowing that should they end up liable for someone else’s accident, they have enough coverage to take responsibility without damaging their business.
An experienced insurance agent can sit down with small business owners and help them understand their risk level and how to ensure they protect themselves with the right amount of liability coverage!
