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Four Signs You Might Need General Liability Insurance for Your Business

Business insurance

As a business owner, you have a lot on your mind, including buying insurance for your business.

Business owners often struggle to determine exactly what kind of coverage is right for their company, which is why we put this article together!

General liability insurance is also referred to as commercial general liability or CGL insurance, and it’s one of the most essential forms of coverage for businesses.

Here are 4 signs your business might need commercial general liability coverage.

  1. Your business operates out of a physical location where customers visit. This opens you up to all kind of lawsuits and other resulting bills from bodily injuries and property damage that take place at this location. With general liability insurance in place, you’ll have a way to cover medical and legal bills, and more. In addition to customers who could make bodily injury claims, this extends to employees, vendors, maintenance personnel, and other associates.
  2. Your business leverages social media. As powerful as social media can be for businesses, it also opens them up to things like libel and slander claims, from which you’ll want general liability insurance to protect you.
  3. Your customers might require it. When you sign contracts with other companies, these contracts often dictate that you must have general liability insurance in place. Skilled contractors and tradespersons are often asked to show proof of insurance to their customers as well. This gives customers the peace of mind that you have the right protection in place during the course of your work with them.
  4. Your business has changed. Maybe you’ve added employees, new equipment or tools, changed locations, or changed your scope of operations recently. Whenever your business undergoes changes, it’s important to discuss them with your insurance agent so they can help make sure you have the right coverage in place.

Are you interested in learning more about business insurance and what kind of coverage is right for you? Get in touch with Fargo Moorhead Insurance today so we can help!