New business owners today face a world that’s fraught with legal perils. You already know you need general liability insurance, but might be unsure of which other ATL commercial insurance products are necessary for your protection. As you search for insurance products, consider the scenarios that could befall your company and lead to liability.
Lawsuits from Employees
Most employees complete their careers free of accidents or mishaps, but real or imagined accidents can lead to lawsuits and settlements. For business owners, owning a general liability insurance policy is a must. It protects you in bodily injury and property damage cases that arise from situations such as day-to-day business operations and contract disputes, along with claims related to the products you make, sale or distribute.
Each business needs an ATL commercial insurance policy that’s tailored to its activities. Your agent can add endorsements to your policy that match your risks. For example, employment practices liability insurance covers you in case an employee makes allegations that have no merit. Even if you’re found innocent of wrongdoing, many policies don’t cover defense or investigation costs. That’s where this added policy kicks in so you avoid paying for an unwarranted claim.
In some cases, your general liability insurance can be customized to include situations that you hadn’t considered. As you speak with an insurance agent, ask about:
- Damage to rented spaces
- Medical payment coverage
- Coverage for fundraisers
- Sexual and physical abuse liability
- Personal injury liability
These and several other coverages can be added to your basic policy at an affordable cost. As you consider your ATL commercial insurance needs, create a plan that covers all the possibilities, so you aren’t left with exorbitant claims that could sink your business.