Why It is Important for Your Business to Have General Liability Insurance

It’s every business owner’s nightmare… your team is doing a routine job they’ve done thousands of times before, but this time, something goes wrong. Installing basic equipment leads to a water line puncture, spilling hundreds, or even thousands, of gallons of water into your customer’s home. After you’ve scrambled to cut the water off and take time to survey the damage, you suddenly remember and breathe a sigh of relief…

You’re covered by your business’ general liability policy. The policy that you’ve paid the premium on for years but never had to actually use could eventually save you from paying thousands of dollars for your customer’s home repair costs.

For Nick Schriver at Decorating Elves, this isn’t just a hypothetical scenario. It actually happened to one of his crews just a few short weeks ago. And it’s a perfect example of why it’s so important for businesses to carry a general liability policy.

Here in Tampa, contractors are required to have a certain amount of general liability insurance to protect both themselves and their customers. However, the exact amount of insurance required will depend on the specific type of contractor. As a certified specialty contractor, Decorating Elves has maintained continuous general liability coverage since day one.

If you are running any type of contractor business, general liability insurance will shield you from huge repair bills if you or one of your employees makes a mistake while working on a customer’s property. It’s important to provide accurate and honest information about your business and employees when applying for insurance and to update this information often as it changes. This will ensure that there are no issues paying your claim if one must be made.

At Decorating Elves, we make sure each and every employee is listed with our insurance company and only operate with the required amounts of general liability insurance. Our customers never have to worry that they’ll be left with damaged property or outrageous repair bills from our mistakes. While we hope to never use the coverage in our policy, it gives peace of mind to know that one mistake won’t derail the entire business or tie us up in years of legal battles. Give your customers the assurance of licensed, insured work too by maintaining adequate general liability insurance for your business.