Business Liability Insurance in Rock Hill & Throughout the Carolinas
Business liability insurance is your business's safety net to avoid paying the heavy financial price of legal claims. Here at CIIG, we have a dedicated team who can advise you on what business liability insurance your business needs and why it will benefit you and the business.
But before you sit down with the team and have a more in-depth discussion, here's what you should know.
What is Business Liability Insurance?
Business liability insurance protects your small business from claims against property damage, bodily injury, or other losses incurred while running the business. It is also known as general liability insurance or commercial general liability insurance.
Business liability insurance is essential to a business because of the high financial cost of business liability claims. Without this coverage, your business will have to pay for these costs out of pocket, which can cripple operations.
What is Covered by Business Liability Insurance?
If your business gets sued, business liability insurance covers the legal fees, court-ordered judgment, and settlements. These are covered up to the policy's limits.
Typically, there are two policy limits you can get. They include:
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Pre-occurrence limit
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Aggregate limit
The pre-occurrence limit is the maximum amount CIIG or any other insurer will pay for a single incidence. The aggregate limit is the most we will pay during the policy period.
Your general liability policy from CIIG will cover the most common business liability risks. However, there are other common and essential liability insurance policies you should consider.
When Do You Need Business Liability Insurance?
Your state, industry, and other factors will determine the most appropriate business insurance policy. Typically, you'll need business liability insurance from CIIG in the following cases.
SIGNING A LEASE
GETTING A LICENSE
FULFILLING CONTRACTUAL TERMS
The Benefits of Business Liability Insurance
Here're a few benefits you'll enjoy from purchasing business liability insurance from CIIG.
It Protects You Against the Unexpected
This is the most obvious benefit of business liability insurance. Purchasing it protects your business from unexpected events and accidents. Therefore, you're less worried if a controlled process goes out of hand and results in injury or damage to your employees or a third party's property.
Let Us Help You Secure Your Business
Business liability insurance will give you the peace of mind to run your business without fear of expensive legal suits and claims. Get in touch with us today and let us work out the best policy for your enterprise.