When a tenant signs a lease for office/retail space, there is an immediate need for general liability insurance as the landlord requires it in their lease.
Many new small business owners have never purchased business liability insurance before.
There are many types of liability insurance, we will discuss general liability insurance coverages.
General liability insurance covers :
slip and falls
damage to another’s property
The landlord wants any damages to their property to be covered by your liability policy.
To purchase a small business liabilty policy you should consult with a personal agent at your business site as the policy usually includes other coverages such as business property. You want the agent to see the space to insure the policy is written correctly.
The small business owner protects their business assets with proper insurance coverage. If there is inadequate coverage, there may be a lawsuit.
To summarize: small business owners need general liability insurance and the best way to purchase this coverage is through an insurance agent who meets with you in person to assess your insurance needs.
RENEE DARATA
