Small business general liability insurance is the kind of policy that protects you from injuries and unforeseeable circumstances, which may end up costing you a fortune in lawsuits. To understand Small business general liability insurance better, it is important to understand what you are covered for, as well as come to terms with the exclusions of an insurance policy, before making a commitment.
Opening a small business has many challenges and it is best to address any questions, before filing away the paperwork from an insurance policy and moving on to the next thing on your agenda. A common clause that is often overlooked as part of a small business general liability insurance policy is that it fails to cover defamation of character, copyright infringement and invasion of privacy. Lawsuits resulting from this type of negligence have forced many professional businesses to close shop, considering they are more prone to being sued in this category. The solution to this would be to purchase omissions coverage and an expert broker at xyz.com, will definitely help you establish the right protection.
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Discriminatory or unfair employment practices are nowhere to be mentioned in a small business general liability insurance policy and it is up to you to determine, if it is needed to sustain a prosperous business. You are entitled to the cream of the crop, when you have proper discipline and other employment related policies in place, which is also a part of best business practices. You may want to consider buying employee practices liability insurance or EPLI, which will keep you safe from decisions regarding termination and sexual harassment.
If your business seeks the help of subcontractors from time to time, then it is good to educate yourself on how and if they are covered. However, most subcontracting agencies employ their own insurance policies, but it is good to avoid any surprises that may occur as a result of your assumptions. There are some insurance companies that extend their cover to subcontractors, as long as they are working on your project or if the damage caused, proves to be injurious to your business. Compare business insurance quotes today.
These are just some of the exclusions of small business general liability insurance and it is best to consult a reputable broker to understand the kinds of insurance policies out there and what they will cover you for. If at any point you are unsure about any clauses in your policy, ask your insurance broker for a realistic explanation, before accepting the contract.