General Liability Insurance in Raleigh

As a business owner, you must account for many risks and exposures that could impact your financial stability. This may be particularly true if an incident impacts other parties, as they could bring costly lawsuits against your company, potentially leading to devastating financial consequences. With this in mind, general liability insurance should be a top priority. 

What Is General Liability Insurance for Businesses? 

Also known as commercial general liability insurance and business general liability insurance, this type of coverage can provide versatile and robust financial protection from many common incidents that may affect other parties. General liability policies establish a contractual agreement between your organization and its insurance company, which may ensure you have access to the financial assistance needed to manage the aftermath of such incidents. 

What Does Commercial General Liability Insurance Cover? 

While policies are often customizable, your company’s general liability insurance coverage should typically include financial protection from the following incidents: 

• Bodily injuries—If a third party, such as a guest or passerby, is injured in an incident for which your business is at fault, this coverage may help pay for their medical bills and other financial losses. 
• Property damage—This part of your general liability insurance may provide financial assistance if your company is responsible for an incident that damages another party’s property, such as a neighbor’s building or equipment. 
• Personal and advertising injuries—This coverage can financially protect your organization from losses and damages if you are at fault for personal injuries or reputational harm, such as that ocurring via slander, libel and copyright infringement. 

Who Needs General Liability Insurance? 

Regardless of size or sector, most organizations can benefit greatly from adequate general liability insurance. The importance of the financial protections included in general liability business insurance typically transcends industry lines and other unique circumstances, making it one of the most common types of commercial coverage. 

Is General Liability Insurance Required by Law? 

General liability insurance is typically not legally required; however, some states may include this type of coverage in their licensing requirements for certain types of businesses, such as construction contractors. A qualified insurance professional, such as those at Alan Insurance Services, can help your organization identify and comply with applicable requirements. 

Do I Need General Liability Insurance? 

Even if your business is not beholden to any official general liability insurance requirements, this type of coverage should still be considered an integral part of responsible loss control measures. Accidents, errors and other incidents may be inevitable regardless of diligence or experience levels, and a single mishap could have far-reaching financial ramifications. Without adequate general liability coverage, these costs may need to be paid out of pocket, potentially leading to financial ruin. 

Where Can I Find General Liability Insurance Near Me? 

At Alan Insure, our team works with many carriers, and we draw on our extensive knowledge and resources to help you assess your coverage needs and compare general liability insurance quotes. Contact us today to get started.