4 Questions You Should Ask Before Purchasing General Liability Insurance

General liability insurance protects your business from many potential damages. Most business owners understand the importance of having business insurance. Yet, they might not know enough to have the right level of protections.  

We are here to help. Get a clear answer to the following four questions before you buy. 

How Much Coverage Do You Need? 
The amount of general liability insurance coverage you need matters. It’s disheartening to find out you don’t have enough protection during your time of need. You and your agent can analyze your business and make a choice that will protect your business. 

What Does Your Coverage Include? 
All insurance policies don’t cover the same losses. To ensure your business has protection, it’s important to know what your policy covers. Knowing what your policy covers gives you the ability to buy extra insurance if gaps in coverage become evident. 

What’s Not in Your Coverage? 
A section of all insurance policies lists exclusions. Your business doesn’t have coverage for incidents listed under this section. When you know your exclusions, you know your liabilities. You know your coverage won’t include losses stemming from these behaviors or activities.  

With this information, you can make better business decisions and protect your business. 

What Are Your Coverage Limits? 
Like all forms of insurance, your general liability insurance has limits. Limits are caps on the amount of coverage you receive. Once you exceed your coverage limits, you are responsible for the remaining expenses. 

For instance, if a lawsuit costs more than the limit of your coverage, then you are responsible for paying the difference. If you don’t purchase enough insurance, then you could bankrupt your business trying to keep up with the cost of a lawsuit.  

Before you purchase a policy, know your limits and purchase additional business insurance if you need to do so. 

General liability is one of the first steps you must take to protect your business. By asking the right questions before you make your purchase, you improve your chances of having the right coverage when you need it. 

You can start the process of getting the coverage you need by contacting us today at  (732) 295-5584. We are happy to offer a variety of information on our web site to choose the correct business insurance.