General Liability Insurance in Phoenix, AZ
Businesses may be involved in incidents that affect other parties, regardless of how vigilant they may be in attempting to curb risks and avoid accidents. Even the most experienced and responsible organizations must maintain appropriate loss control measures, such as a general liability insurance policy.
What Is General Liability Insurance?
As its name suggests, general liability insurance can provide a business with versatile financial protection from many common incidents and perils that may affect other parties. An appropriate policy can give organizations access to funds and resources in these situations and limit their out-of-pocket expenses.
What Does General Liability Insurance Cover?
General liability insurance focuses on providing financial assistance in response to third-party losses. This may include many common incidents that transcend industry lines or unique operations, such as a guest or passerby slipping on an icy sidewalk outside or a business’s employees damaging someone else’s property while working off-site.
What Are the Types of General Liability Insurance?
General liability insurance is typically composed of three primary coverages, which may financially safeguard companies in response to the following types of incidents:
Bodily injuries—If a third party is injured in an incident for which a business is at fault, this coverage can help pay for resulting medical bills and financial losses.
Property damage—This part of general liability insurance can compensate affected third parties if a company or its employees damage their property, such as their buildings or belongings.
Personal and advertising injuries—In response to these incidents, such as slander, libel, copyright infringement and false advertising, this coverage can help pay for a policyholder’s legal costs and other financial losses.
Who Needs General Liability Insurance Coverage?
Because of the versatility of general liability insurance, most commercial enterprises should consider it integral to their loss control measures. Coverage may be essential if an organization’s operations include the following:
- Welcoming guests or clients to their workplace
- Storing, transporting or otherwise taking responsibility for other parties’ property
- Conducting work at off-site locations
- Advertising, marketing or using social media
Why Do You Need General Liability Insurance Coverage?
Many common incidents, such as a visitor tripping on an upturned rug, could lead to significant medical expenses for which the organization could be financially responsible. Without adequate commercial general liability coverage, your company could be saddled with potentially catastrophic out-of-pocket losses and expenses, which may derail your financial stability and even jeopardize your future prospects.
Get the Right Coverage
At Sonoran Insurance LLC, we will draw on our over 20 years of experience to help tailor coverage to suit your unique needs, such as general liability insurance for small businesses, general liability insurance for business owners and general liability insurance for LLCs.
If you’re a business in the Phoenix, Arizona, area, contact us today to explore your options and get a quote.