Do I Really Need General Liability Insurance?
Regardless of what industry your business operates in, the answer to this question is almost always yes. While general liability (also called business liability) insurance often isn’t legally required, the protection it can provide a business more than justifies its cost.
In fact, depending on the type of business you own, you may need general liability insurance coverage before your state will allow you to apply for a professional license.
Beyond state licensing requirements, electricians, plumbers, and a number of other of artisan contractors often need to carry general liability insurance just to set foot on a commercial job site.
Some businesses that almost always need general liability insurance include:
- Most types of contractors (general, subcontractor, etc.)
- Real estate businesses and property management
- IT businesses and contractors
- Landscaping businesses
- Consultancies
Even if your business is not listed here, there’s a good chance that general liability insurance is still important for your company if you or anyone you employ:
- Services client equipment (e.g., IT support and service)
- Conducts business or business-related activities at a third-party location
- Is required to carry general liability insurance by a business contract
- Works directly with clients in person or visits their place of work (or vice versa)
Even if your business doesn’t meet the qualifications above, GL is an insurance coverage that still makes sense in most situations. Considering that a single mistake or accident could lead to a lawsuit that threatens your entire business operation, you should strive to carry enough liability coverage to cover your unique risk exposure.
At Tomins, we know insurance can be confusing and frustrating. We’re here to help. Reach out for a free commercial general liability quote here now. Let us take the headaches out of insurance for your business.
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