As a small company, you may not think much about lawsuits or claims from customers. You work to provide a service or product to your customer and do your best at it. Yet, risk follows every company. Without general liability insurance, a small business is vulnerable to financial loss. In some cases, this can cause the folding of the company.
One of the most commonly used part of a general liability insurance policy is bodily injury liability, which covers medical expenses for those who are injured on a business’ property. Not all injuries are covered, however.
It’s common for business owners to see workers compensation insurance as a basic expense of doing business and hiring employees. Yet, it provides a wide range of financial protection and can help to ensure that good relationships exist between you and your employees.