Georgia Business Liability Insurance

Georgia business liability insurance helps you to secure your hard work. Imagine working years to establish your small business and then a lawsuit taking it away from you. This is something that has occurred too often in Georgia just because there was no GA insurance present. If coverage were there, everything would've been okay.

The reason why there are Georgia businesses out there without Georgia business liability insurance is because of a variety of myths that exist. Myths have a tendency to be accepted as fact and it is because of this that the uninsured is paying dire consequences in the end. These are very unnecessary consequences.

Liability Insurance Myths

The first myth is that a business owner doesn't believe that they are going to get sued. Perhaps it is because a lot of money isn't made. The fact is that every business can be sued. It doesn't matter if not much money is made. The verdict for the settlement amount is not based upon how much money is made, but the damages in which the injured individual sustains.

For example, your employee is operating a forklift and accidentally hits another person visiting your facility. As a result, they have to face $100,000 in medical treatment and surgeries. They have the right to sue you for the $100,000. Could you imagine paying that out of the few assets that your company has?

Fortunately when there is Georgia business liability insurance in force, the $100,000 is paid by the liability insurance instead. In other words, the only cost that you have to worry about is your premium and any deductibles that need to be paid. That is much better than having to pay $100,000 in damages.

And if you have partners or other individuals with an interest in your company, don't leave it to them to take care of everything if you would pass away. You should make sure you have Georgia business liability insurance in effect from the very beginning. If you don't have Georgia insurance in effect from the start, you should obtain it the moment it comes to mind.

Another myth is that you don't need coverage if you are operating your business out of your home. If you have individuals coming in and out of your GA home due to conducting business with you, there is always that chance for a slip and fall or another such incident. You can also take advantage of the part of liability insurance that protects you against advertising injury.

Business Structure

Some individuals think that the structure of their company protects them. For instance, they think that because they are a corporation they are protected. The fact is that this structure protects the individual investors, the officers, and the owners from personal liability. This is unlike a sole proprietorship that leaves the proprietor vulnerable.

Any time there is a structure that is to protect individuals from personal liability, it is not foolproof. There are even circumstances in which the corporate veil can be removed and individuals exposed. As long as there is Georgia business liability insurance in force, that exposure can be ended. You can make sure that there is no need for the corporate veil to be lifted, which saves a lot of time.

Even if you are running a very small operation, such as that of a sole proprietor, you still need Georgia business liability insurance. When running a small company, you may not have some of the resources that the larger companies have to protect themselves from certain things. So being small or having a small time structure for your company is not a reason to not have liability insurance in Georgia.

To find the best Georgia business liability insurance policy for you, it is best that you compare quotes so that you can isolate which policies fit your needs. By isolating your needs, you are able to find the policy that is right for you. You can look at the rates that each policy you are interested in has in store and then make your choice from there.

And Georgia business liability insurance is easier to purchase because of the Internet allowing you to obtain your GA quotes online and also purchase online. Making the process easier and less time consuming means being able to have protection much faster than what businesses in Georgia used to. The process used to be more extensive, which is another myth that tends to grab hold of those needing coverage.

So make sure you protect your Georgia-based company with Georgia business liability insurance. If a lawsuit would happen to come your way, you can keep it from having a negative financial impact on you, allowing you to go on with your day-to-day operations. Once the issue is over, you don't have to think about it again.

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