Do All Businesses Need General Liability Insurance?

The short answer? It’s highly recommended, but not always legally required.

General liability insurance is like a safety net for businesses, protecting them from a wide range of common risks. These policies typically cover:

  • Bodily injury: If a customer or client gets injured on your business property, this coverage can help pay for medical expenses and legal fees.
  • Property damage: Accidentally damaging a client’s property? This coverage can help with repair or replacement costs.
  • Advertising and personal injury: This protects your business from claims of slander, libel, copyright infringement, and other reputational harms.

So, who needs this coverage?tim-mossholder-qvWnGmoTbik-unsplash

While not always legally mandatory, many businesses are required to have general liability insurance in certain situations. For example:

  • Businesses that lease commercial space: Landlords often require tenants to have this coverage to protect the property owner from liability.
  • Businesses that work with clients on-site: If you or your employees frequently visit client locations, this insurance can protect you in case of accidents.
  • Businesses that handle customer data: If you store or process sensitive customer information, this coverage can help protect you from data breach liabilities.

What if I work from home or operate online?

Even if you don’t have a physical storefront, general liability insurance can still be crucial. For example, if a client visits your home office and gets injured, or if you accidentally cause damage to a client’s property while working remotely, this coverage can protect you.

Ultimately, the decision of whether or not to purchase general liability insurance depends on your specific business needs and risk tolerance.

Nicholson Insurance Group can help!

We can assess your business risks and help you determine the right level of general liability coverage. Contact us today for a free consultation.

16347 Highway 155 South Tyler Tyler, TX. 75703 | (903) 630-7494

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