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Saturday, 28 February 2015

Do You Need General Liability Insurance Coverage For Your Small Business in Edmonton?



Owning a small business comes with its fair share of challenges. As a business owner, it is your responsibility to ensure that your business in Edmonton is properly covered. Without adequate coverage, you simply risk losing too much.

Today we will be looking into one common type of insurance coverage -- namely, the general liability insurance policy. Would your small business benefit from this policy? Let's first take a look at what exactly this policy covers:

1. Property damage: This is property damage that you are legally liable for. It can include rented property and damage that has been caused by employees.

2. Bodily injuries. This includes injuries to people that you are legally liable for. Ever heard of a person suing a company after falling and injuring themselves on their property? Well it happens more often than you think.

3. Defense costs. If someone brings you to court, your defense (and settlement) costs will be taken care of by your insurance company.

4. Slander and libel claims. This is quite straightforward as well -- if someone is causing damage to your business by slandering it, then you can expect any claim to be covered under this policy.

Now to go back to the original question -- do you need general liability insurance coverage such as the one offered by Sharp Insurance for your small business in Edmonton? Once again, there is no one-size-fits-all answer to this question. It depends on many things, among them your company size and your budget.

We recommend discussing this with your insurance broker if you are unsure of whether or not you should go forward with this policy at this point.

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