General Liability Insurance in Pasadena, CA: The Basics

27 June 2016 Category: Business Insurance

General Liability Insurance in Pasadena, CA: The Basics

When you say you’re going to start a business, everyone tells you that you need general liability insurance in Pasadena – for good reason.

If you own your own business, you know that your own personal liability insurance won’t cover losses related to your professional activities. What will happen to your business, then, if you are sued and a hefty lawsuit is placed on your doormat? An expensive lawsuit could wipe you and your company straight off the business map before you ever get started, or may damage the reputation you painstakingly built from nothing. If that sounds like something you want to avoid, now is the time to talk to your insurance agent about general liability insurance.

What is general liability insurance?

Liability insurance protects a business’ assets and pays for obligations—like medical bills, for example—incurred if someone succumbs to injury on your property, or when there are property damages or injuries that were caused by you or an employee. You may think your practices are the safest around, but even just one wrong move at the wrong time may send a truly catastrophic lawsuit your way. Could your business survive a lawsuit of any magnitude? Remember, you could be on the hook for medical bills, court fees, attorney fees, plus anything else the judge deems within the third party’s right. Liability insurance also covers the cost of the settlement should you be successfully sued.

Does my business need liability insurance?
We live in a very litigious society where every little thing you do has the potential to land you in a lawsuit. Annual premiums for liability coverage can range from $750 to $2,000, depending on your line of business and your coverage needs. It doesn’t take Albert Einstein or Alan Turing to figure out that it costs less to sustain an insurance policy over the years of your business’ lifespan than it does to cover the thousands, if not millions, of dollars you may need to spend fighting your case in court. Even if you win, the costs at the end may still have you digging deep into your pocket.

Liability insurance may prove to be your greatest investment in your business. When looking for the right business insurance in Pasadena, CA to meet the needs of your unique type of work, contact the independent insurance professionals at Massive Insurance. We can tailor the right general liability insurance policy for your business.