General Liability Insurance in Phoenix, AZ

Like most businesses, your operations probably involve customer interaction. After all, customers are necessary for any successful enterprise.

However, despite this necessity, dealing with customers can introduce numerous perils, making risk mitigation vital. General liability insurance can help financially protect your business in the event of third-party claims.

What Does General Liability Insurance Cover?

Most business insurance packages include general liability insurance because it’s essential for most companies. This insurance can cover the following aspects:

• Third-party injuries—If a customer or guest slips in an entryway, general liability insurance can cover their medical costs. It may also help cover legal costs and settlements if your business is sued.

• Third-party property damage—If an employee handles customer property and damages it, your policy may cover the repair or replacement costs.

• Personal injuries—If another business sues you for copyright infringement or slander, your policy may help with legal expenses.

• Product liability—If a product you manufacture or sell injures someone, your policy may help with related costs.

What Businesses Need It?

General liability insurance is designed for any type of business, regardless of size or industry. Whether you’re a one-person shop or a global corporation, this coverage should be considered essential. Retail shops, restaurants, contractors, manufacturers, landscapers and many other types of operations can all benefit from this coverage.

This coverage may also be required as part of a commercial lease or contractual agreement.

How Much Does It Cost?

The price of general liability coverage can vary depending on your business’s unique characteristics. Some factors include:

• Business size

• Industry and risk level

• Number of employees

• Location

• Claims history

There are numerous ways a business can potentially save on overall costs. For instance, small businesses may qualify for a business owners policy (BOP), which bundles general liability insurance with other forms of essential coverage. Additionally, taking proactive safety measures can reduce third-party risks and help lower premiums.

For more information on general liability insurance and other critical business coverages, contact Facil Insurance today. We can help assess your operations, discuss potential discounts and find a policy that suits your needs.