How Commercial General Liability Insurance Can Help You Avoid Paying for Unexpected Losses

Running a business comes with many rewards, but it also involves risks. From customer injuries to property damage, unexpected losses can arise when you least expect them. Commercial general liability (CGL) insurance can help shield your business from financial setbacks due to unforeseen circumstances. Here’s how this essential coverage can save you from out-of-pocket expenses and keep your operations running smoothly.

Protection Against Third-party Claims

CGL insurance may cover third-party claims involving bodily injury, property damage and advertising injury. For example, if a customer slips and falls on your premises or if you accidentally damage a client’s property during a job, your policy may cover medical expenses, legal fees and repair costs. Without this coverage, your business could be liable for thousands of dollars in damages.

Legal Defense Costs

Litigation is expensive, and no business is immune to the rising costs of legal defense. CGL insurance may pay for legal representation and court fees if someone sues your business for covered claims. This coverage may enable you to defend yourself without draining your company’s resources.

Compliance With Arizona Laws and Contracts

In Arizona, many industries require businesses to carry liability insurance to meet licensing requirements. For example, contractors and real estate professionals often need CGL insurance to operate legally. Additionally, many clients and landlords require proof of liability coverage before signing contracts or leasing property. Having CGL insurance not only ensures compliance but may boost your credibility with potential clients.

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Unexpected incidents can jeopardize your business’s financial stability. With insurance coverage, you can confidently navigate the challenges of doing business. Contact ABC Insurance & Financial Services today to customize a policy that meets your needs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.