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The Importance of Business Insurance: How General Liability Protects Your Business from Lawsuits

Frankenmuth Insurance shares the basics about general liability insurance:

  • Commercial general liability claims are filed when a person is injured or their property is damaged because of your negligence, faulty or inferior products or equipment, or due to defective workmanship.
  • It's important to file a claim as soon as possible after an incident.
  • The process of filing a claim includes: Notifying your agent or insurance company immediately following an accident, injury, or loss, formally filing a claim using one of the four easy methods (call, fax, agent, online), a review of your current policy by the adjuster to see what is covered, a claims investigation taking place, and resolution of the claim.
  • To file a claim, you should locate your policy number, know how the incident occurred, preserve video or surveillance of the incident, take photos of damages, keep any other documents that may be pertinent, and gather any leases or contracts involved.

Why Every Business Owner Needs to Understand Commercial General Liability Claims and Business Insurance

As a business owner, you're likely aware of the importance of having adequate insurance protection for your company. However, it's also essential to understand the specifics of commercial general liability claims and how they relate to your business insurance. In this post, we'll explain what a commercial general liability claim is, when you should file one, and how the claims process works. We'll also provide tips on how to file a claim and the importance of having the right business insurance coverage.

Understanding Commercial General Liability Claims

A commercial general liability claim is filed when a person is injured or their property is damaged because of your negligence, faulty or inferior products or equipment, or due to defective workmanship. These types of claims can range from property damage claims to slip and fall claims.

When to File a Liability Claim

It's crucial to file a claim as soon as possible after an incident occurs. Most insurance policies require you to do so, and for good reason. When you file immediately, you'll have the most accurate recollections of the event and the immediate actions that were taken. Additionally, you may have witnesses or video footage of the incident that could be helpful during the claims process.

Navigating the Claims Process

The commercial general liability claims process can vary depending on the specific circumstances of the incident. However, in general, the process includes:

  1. Notifying your insurance agent or company immediately following an accident, injury, or loss.
  2. Formally filing a claim using one of the four easy methods as outlined in the section below (call, fax, agent, online).
  3. A review of your current policy by the adjuster to see what is covered.
  4. A claims investigation taking place. An adjuster will look at the loss, your coverage, involved parties, and potential witnesses while reviewing the claim.
  5. Resolution of the claim.

It's important to note that there is no standard claim processing time due to each claim's unique circumstances. However, the more details you can provide, the faster your claims process will be.

Filing a Liability Claim

When filing a commercial general liability claim, it's essential to have your policy number on hand and to know how the incident occurred. If there was video or surveillance of the incident, be sure to preserve it. Take photos of damages and keep any other documents that may be pertinent. If any leases or contracts are involved, gather those.

Many insurance companies make filing commercial general liability claims easy to receive and process claims, so you can get fast, fair results. You can file a claim via call, fax, agent, or online.

The Importance of Business Insurance

Accidents, injuries, and losses can be inevitable when owning a business. That's why it's essential to have adequate business insurance coverage. Understanding commercial general liability claims and the claims process can help you be better prepared in the event that a claim needs to be filed. By having the right coverage and knowing how to file a claim, you can protect your business and have peace of mind.

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