Every business owner should have Phoenix commercial general liability insurance as it is your first line of defense in protecting your business. Whether you are a local florist, plumber, a pizza shop owner, or a medical office, the issue remains the same: having liability insurance will give you the protection you need against lawsuits and a variety of claims. We, at Smart Move Insurance, have access to many different markets and the expertise needed to find the right coverage for your business.
As an overview, commercial general liability insurance is a specific type of insurance that is designed to protect the insured business against bodily injury or property damage claims. This could mean any number of things including slander, injury due to an irresponsible act, damage to someone else’s property, etc.
In the event that you as a business owner are sued, the financial repercussions can be devastating. Just think about what it would cost you in legal defense whether or not you win the lawsuit. With a general liability policy, legal defense is included against those claims covered in the policy. There are a lot of uncertainties in life, but it is important to realize that as a business owner if you do not have insurance, you put yourself at risk of losing everything you have worked for – your business, your home, and your assets.
Pricing for this type of policy depends very much on the type of business that you run and how much business you do. In most cases, the premium will be a percentage of the gross payroll or sales because of how big your Phoenix business is impacting the amount of risk your business faces. The type of business that you do also has a large impact on rates because some industries have a higher risk profile than others. All businesses come with risks and it is your responsibility as the business owner to protect yours the best you can.
Bear in mind that many businesses may need other types of insurance such as professional liability, errors, and omissions, commercial auto, or some type of very specific insurance that covers your industry. There is no sure way to protect your business against everything, but general liability is a good first step. In fact, many companies will not do business with someone that does not carry Phoenix general liability insurance because of its importance to their business.
Smart Move Insurance is a locally owned insurance brokerage in Arizona. We work with business owners all over to ensure that they have the right coverage to protect what they work hard for. Whether you are a large construction firm, a small home-based operation, or anything in between, our Phoenix commercial insurance experts will help you identify your risks and choose the right coverage for your business. Our goal is 100% client satisfaction – every time. We are in this for the long haul, so if you are looking for a brokerage you can trust, please call us and let’s discuss your needs.