Running a small business may mean dealing with budget constraints all the time. However, there is one aspect which demands your money without any compromises- general liability insurance. Businesses are dealing with more liability claims than ever before, and with general liability insurance, you can protect your company against common claims, such as third-party injury, property or premise damage, and advertising injury. In this post, we are discussing more on why Texas liability insurance is critical for your company.

Do we really need general liability insurance?

Small businesses often end up paying the biggest sums in liability claims. Sample this situation – A customer visits your store, and he slips on a just-cleaned floor. If he/she chooses to sue your company, the amount you may have to pay could be huge. The biggest reason why you need general liability insurance is to get protection against such claim. For the uninitiated, general liability insurance is same as business liability insurance.

What does business liability insurance cover?

Property damage claims and personal claims against your company can be covered under business liability insurance. If someone gets injured at your company, the insurance can cover for the medical expenses. Other claims that are covered include advertising injury claims. If there are any costs incurred for court proceedings or costs involved in handling claims covered under business liability insurance, the same is covered too.

Note that general liability insurance doesn’t cover injury claims made by employees or those working for your company – for that you need workers’ compensation insurance. If there are claims against your company an accident caused by an employee, the same is also not covered.

Benefits of general liability insurance

Claims against your company can get expensive in no time. In legal services alone, you may end up paying a huge price. If matters are not settled amicably, things can go to the court, and that could mean spending a massive amount, often in thousands of dollars. Also, customers are also more aware of the choices they make, and they don’t want to local businesses that don’t have liability insurance Texas. If you want your company to shine out and find business without worrying about claims, this the way to go. Also, the price you pay for this is much lower than what you would spend otherwise.

Just do your homework well before paying for general liability insurance and check relevant terms and conditions.