In Michigan, business owners purchase insurance policies to protect them against financial losses. Liability policies provide assistance when a lawsuit is filed against the company. The policies provide settlements when possible. They also mitigate common risks associated with legal claims filed against the company. A General Liability Insurance Agency in Monroe MI provides policies to achieve maximum protection.
Protection Against Personal Injury Claims
Personal injury claims are filed for product and premise liabilities most often. However, the claims also include worker-related injury lawsuits. The cases present a liability against the company based on a failure to secure the safety of workers and visitors. The insurance policy presents the protection against a major loss if the plaintiff wins.
Options for Property Damage
Property damage claims are often associated with damage that occurs when the company performs services. This could include construction projects in which the crew failed to mitigate related risks. A breach of contract is another common occurrence in which property damage is present. This could include damage that occurred when the company installed masonry work or a new driveway.
Protection for Advertising Issues
Claims for false advertising could also generate potential risks of a legal claim. Any product that doesn’t perform as advertise presents a liability for a company. The exception to the rule is that the company must present a disclaimer to avoid problem legal action. For example, diet pill manufacturers must indicate that results may vary. This indicates that the results show won’t happen for all consumers.
Protection for the Company’s Reputation
The company’s reputation is equally important. A legal claim or complaint could damage the company’s credibility. The insurance policy may provide the company with an attorney when their reputation is at risk. This includes defamation of character and fraud claims.
In Michigan, business owners need insurance policies to protect them thoroughly. General liability coverage assists in protecting the company when a legal claim is filed. It provides a settlement to lower the risk of major financial losses. Business owners who need the policies contact a General Liability Insurance Agency in Monroe MI or contact us for free insurance review right now.
