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January 31, 2025
Agency

Acquiring General Liability Insurance for Small Businesses

General liability insurance can financially safeguard your business against claims of injury or damage arising from your business operations.

This insurance may be particularly pertinent for smaller businesses operating on tight budgets, as an unexpected lawsuit or claim could be financially devastating.

A standard general liability insurance policy typically includes coverage for the following:

  • Bodily injury and property damage—This may cover medical expenses and repair costs if your business operations cause injury to a third party or damage their property.
  • Judgments and settlements—This may cover legal costs, judgments and settlements if your business is found liable for an incident.
  • Personal and advertising injury liability—This may cover claims such as defamation, invasion of privacy and copyright infringement.

How to Get General Liability Insurance

To acquire general liability insurance, assess your business’s specific needs. Consider the nature of your business, your industry and the potential risks you may face. AJ Gambardella Associates, LLC can assess your circumstances and provide a personalized quote.

When selecting a policy, consider the following factors:

  • Coverage amounts—Ensure the policy has enough coverage to protect your business. Higher coverage amounts may offer better protection but can also come with higher premiums.
  • Bundling policies—Consider the merits of bundling multiple policies, such as general liability and property insurance. Bundling can be a cost-effective way to get comprehensive coverage, as some insurers offer discounts.
  • Terms and conditions—Carefully review the policy to understand what is and isn’t covered. Ensure it fits your business needs, and ask questions if anything is unclear.

It’s worth noting that general liability insurance doesn’t cover all liability scenarios. You may require additional lines of coverage, such as professional liability insurance or commercial auto insurance, for robust protection.

General Liability Insurance in Stratford, CT

Acquiring general liability insurance can safeguard your business’s financial stability so you can focus on growth. AJ Gambardella Associates, LLC can evaluate your business’s specific risks and provide customized solutions. Contact us today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.

Categories: General Liability Insurance

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