What General Liability WON’T Cover

General liability is your rock, your foundation for a comprehensive insurance package. If someone slips and falls on your property, general liability has you covered. If you get into an accident, it’s probably going to be your general liability policy that you’re cashing in on. Smart Way Insurance Agency can offer comprehensive liability plans, but you should know that there are limits to how far general liability will go.

If, for instance, you run a website, and someone sues you for defamation because you ran a story that they take issue with, general liability won’t cover that. If you work in finances and you give someone some investment advice that doesn’t work out, and they sue you over it, general liability won’t cover that, but professional liability will.

Whatever you do, whatever you are buying insurance for, general liability is a must, but it is also important to ensure that you are covered against the other forms of liability that tend to affect your field. This varies from person to person, from business to business and even from city to city. The insurance and business laws in Sandy, UT will be very different from those in Sarasota, FL, for instance.

General liability insurance is important, and if you are not covered currently, then you should call Smart Way Insurance Agency as soon as possible to make sure that you are protected. But, it is only a foundation for your insurance plan. You need to be covered from all angles. General liability is a starting point, but you have to consider what else is needed to keep you safe from all threats.

Do I need general liability insurance in case someone has an accident on my property?

You may already have insurance through Smart Way Insurance Agency to cover all your insurance needs in Sandy, UT, such as property and auto insurance. If you have a comprehensive Business Owners Policy (BOP), you may also have some general liability coverage. However, coverage for General Liability under a BOP is usually low and does not cover many specific kinds of events. In order to protect yourself and your business, you will need to ask about additional coverage.

Why Do You Need General Liability Insurance?

There are several kinds of instances where your other policies will not protect you in case of liability. The one most people think of is in the unfortunate event when someone comes onto your property and gets injured, maybe falling down and breaking a bone. If he or she files a lawsuit, you may be responsible for paying for all the medical bills and other damages out of pocket if you are not protected. 

Additionally, if your company produces a product that could be proven to be defective, and that resulted in injury, you could be held responsible. This includes both property damage and any personal injuries. Say for instance you sold toasters, and there was an electrical problem that caused a fire which damaged property and burned the customer. You could be ordered to pay for the injuries, and for all the property damage. This also applies for damages which arise from a service your business provides. 

When you have a policy that protects you, your own assets will not need to be used to pay claims for accidents. If you have any questions or want to talk about how much coverage you need in Sandy, UT, call Smart Way Insurance Agency today.