General Liability Insurance in Chicago, IL
Businesses in Chicago, Illinois, face various risks daily, including potential lawsuits and property damage. General liability insurance is essential for protecting businesses from financial losses caused by unforeseen incidents. If you’re looking for reliable and adequate insurance solutions, Express-Way Auto Insurance Agency can help.
What Does General Liability Insurance Cover?
General liability insurance typically includes coverage for the following scenarios:
- Third-party property damage—This insurance may help cover repair or replacement costs if your business is responsible for damaging someone else’s property.
- Third-party bodily injury—This may help cover medical expenses if someone is injured at your business. For example, if a customer slips and falls, this can help cover their treatment costs.
- Personal and advertising injury—This may help provide coverage if your business is sued for personal or advertising injuries, such as slander, libel or copyright infringement.
- Medical payments—This may help cover medical expenses for injuries that occur on your business premises, regardless of fault.
Is General Liability Insurance Mandatory?
General liability insurance is not typically mandated by law. However, there are circumstances where having coverage becomes essential. For example, some business licenses might require it, and landlords often ask for proof of insurance before finalizing a lease agreement.
Even if it’s not legally required, obtaining general liability insurance is smart. It can safeguard your business against unforeseen expenses, so you won’t have to cover damages or legal fees out of your own pocket.
Why Is General Liability Insurance Important?
General liability insurance is essential for protecting your business against financial risks. Without it, you could incur substantial out-of-pocket expenses if a claim is made. Having the appropriate insurance coverage can allow you to manage potential risks effectively so you can concentrate on expanding your business instead.
Learn More
At Express-Way Insurance Agency, our team can help you find a general liability insurance policy tailored to your needs. Contact us today for more information or request a free quote.