There are many risks to running a business. When mistakes and accidents happen, it’s important to have the right insurance to cover legal fees, medical bills, fines, restitution and other expenses. Here are some example scenarios that your commercial property general liability insurance policy might cover.
Personal Injury
Members of the public such as customers, non-paying visitors to your business and delivery personnel might become injured at your place of business. When this happens, they might have to visit the hospital, undergo surgery and participate in physical therapy to heal from the injury. These expenses can total in the hundreds of thousands of dollars, but insurance can cover them.
Damage to Property
Damage can easily happen to property on site. Customers might hit the corner of your building with their cars or delivery personnel can damage door frames with their delivery carts. Employees might also cause damage to equipment during normal use or due to mistraining. Repairs might cost tens of thousands of dollars or more, so it is important to have the proper insurance coverage.
Running a business can have many risks ranging from injury to property damage. Commercial property general liability insurance can protect you from going bankrupt in case these events take place, so it is important that you have coverage.