Philadelphia General Liability Insurance
Many business owners feel doubtful about taking general liability insurance, also known as Commercial General Liability Insurance. If you find yourself a part of this demographic, you may benefit from simply knowing more details about it. To this end, we’ve prepared this article to provide insight into Philadelphia General Liability Insurance.
What does General Liability Insurance Mean?
This insurance can help cover the claims for all the injuries and other types of damages like property damage that your business has suffered. In the event that you have already taken a Business Owners Policy (BOP), you can utilize this insurance to broaden your coverage.
General liability insurance can cover the significant losses and damages which may occur while running your business. Mounting out-of-pocket expenses accruing during everyday operations can severely impact your business’s growth rate, which is why many business owners opt to take General Liability Insurance.
What will this insurance cover?
- Third party property damage: When your employees work at the client’s site, there are chances that they cause property damages to the client’s belongings. The client can then make a claim for their losses, but with general liability insurance expenses from this claim (up to a predetermined threshold) will be covered. You can expect the client’s claim to seek compensation for their property’s replacement and/or repair.
- Third-party bodily injury: When a person is injured on your premises, they can make a claim for their injuries and even try to sue your business. In such instances, this insurance will help you cover their damage cost, primarily their treatment cost.
- Advertising Injury: This encompasses various non-physical injuries, including libel, slander, invasion of privacy, and/or copyright infringement.
- Reputational harm: There are instances when a person in your employment makes a statement in regards to another individual or company, which is then perceived as a harm to that individual/company’s reputation. This individual/company can then sue you for reputational harms which has caused potential financial losses.
There are countless benefits of taking general liability Insurance. If you’re interested in pursuing this type of insurance, then Remco Insurance Services is here to help. We have been providing excellent insurance options to our customers since 2008. Our clients continue to choose us for their insurance solutions because we consistently deliver quality results. Contact us today at 215.357.7878 to get started with superior service, coverage and the best rates.