General Liability Insurance: The Pros and Cons

12/18/2018

Nowadays, businesses often focus on their customers and know how to engage better with their audience ever than before. It may lead to overlooking some important aspects that come in establishing a business. One of which is general liability insurance for the company.

There are lots of business insurance provided by various insurance institutes. You would want to know its pros and cons so that you will see how far it can take you.

Pros:

Risks are always present, especially in business. If you have protection, you will lessen the possible threats that can be an obstacle for the company’s growth.
Mishaps and misfortune may always occur. Some things are out of control, and the best way we can do about it is to be prepared for the aftermath. Your business insurance will help you with any lawsuit that may be filed against you. In some cases, the business will also be protected in times of fortuitous events.
The flexibility of business insurance is the best feature of it. It can cater to all the business’ needs. There is plenty of coverage to choose from; all you have to do is research which one suits you best.

Cons:

General liability insurance may not have enough protection to answer for a considerable judgment or lawsuit against you. You need to have additional coverage to get higher protection than this insurance can provide.
Often, business owners deem this insurance as another associated extra cost. It is the mindset that is hard to change because setting up a business is already costly as it is. Well, let alone the number of employees you plan to have. It will also determine the insurance cost and coverage you need.
There are lots of factors to cover and consider when it comes to building your own business. You might find other else’s unaffordable especially in the first few years of running the company.

Establishing a business comes with high risk already, without protection you might be initiating more threats for the company. A wise business knows what to invest in and what to keep. In this case, you would want to protect your business to make sure that you can operate for years.

At Ideal California Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (818) 241-4515. You can also request for a free quote by CLICKING HERE.

14 Comments

Taylor Hicken link

11/16/2020 06:44:43 pm

You made a good point when you mentioned having protection will ensure that your company will be able to grow without obstacles. It is very important to be ready with any circumstances because anything could happen beyond our limits. Therefore, I would like to think if a company is planning to save itself from any losses, it should consider getting liability insurance that can provide protection.

Charlotte Fleet link

12/17/2020 02:42:56 pm

You made great points about the pros and cons of liability insurance. I like how you mentioned that because risks are always present in businesses, it can be beneficial to have liability protection to lessen the possible threats. I would think that it could also be beneficial to find an insurance company that offers good coverage and is reliable.

Fred Gibbons link

1/8/2021 12:32:00 pm

Thank you for pointing out that general liability insurance can help protect your business financially. I want to start a business this year, so I'm thinking about buying some general liability insurance for it. I'm going to look for a good business in my area that can help me get some general liability insurance.

Nelson Fogerty link

1/11/2021 08:36:14 am

Thanks for elaborating on how general liability insurance can help protect your business. I want to start a small business in the near future, so I will probably need to buy some general liability insurance for it. I'm going to search for a good business in the area that can sell me some general liability insurance.

Bob Newton link

1/18/2021 11:30:45 am

It's great that you elaborate on how general liability insurance can help protect the financial wellbeing of your business. My girlfriend and I want to start a business in the near future, so we should probably buy some general liability insurance for it. I'm going to search for a reputable business in the area that can sell us some general liability insurance.

Conrad O'Connor link

2/11/2021 11:57:45 am

It's wonderful that you point out that general liability insurance can help protect your business financially. My wife and I are planning on starting a small business this year, so we should probably buy some general liability insurance for it. I'm going to see if there's a good business in the area that can sell us some general liability insurance.

Alec Burns link

2/12/2021 08:55:33 am

It's interesting that you point out that general liability insurance can help cover your business financially in case something unfortunate happens. I'm planning on starting a small business soon, so I should probably purchase some general liability insurance for it. I'm going to see if there's a good business in my area that can sell me some general liability insurance.

Jonathan Hansen link

3/15/2021 11:30:18 am

It's great that you mention that general liability insurance can help protect the financial prospects of your business. I want to start a small business this year, so I'm thinking about buying general liability insurance for it. I'm going to look for a good business in my area that can sell me some general liability insurance.

moneybrighter.com link

6/24/2021 01:19:55 am

In the same opinion as you, it is true that risks are always present, especially in business. If you have protection, you will reduce potential threats that can be a hindrance to the company's growth.

Ella Starr link

8/6/2021 10:43:30 am

Thank you for mentioning that insurance lessens threats. My husband and I want to start a new business this summer. I will find a good general liability insurance coverage company in my area.

Hailey Miller link

12/16/2021 02:43:40 am

Thanks for pointing out that general liability insurance can lessen the possible threats that can be an obstacle to a company's growth. I would imagine that any business owner would want to avoid incidents, like fire or theft, that can affect their operations. I think they should look for brokers who can provide business insurance for their organization to ensure protection and peace of mind.

kate hansen link

1/26/2022 12:18:40 pm

It's good to know that it can cater to businesses and their needs. My husband started his own company a couple of weeks ago, and he was telling me last night about how he wants to make sure that he can get the right insurance for it. I'll pass this information along to him so that he can look into getting commercial liability insurance!

Thomson Smith link

2/7/2022 08:17:43 am

It's cool that you point out that general liability insurance can protect your business from potential lawsuits. I want to start my own business later this year, so I'm thinking about purchasing some general liability insurance for it. I'm going to see if there's a good business in the area that can help me get some general liability insurance.

Kristofer Van Wagner link

2/20/2022 10:52:52 pm

I am grateful that this post highlighted that when looking to choose general liability insurance, it is important to ensure we choose the right partner. It makes sense as in doing so, it ensures that we receive the right coverage. I will definitely keep this information in mind when I look to have general insurance applied.

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