Why Start-Up Businesses Need General Liability Insurance

Starting a business is exciting. As a new owner, you get to make your mark on your community with your product or service. While you’re busy getting your website pulled together and have matching t-shirts with your new logo printed off, you may not think of the unforeseen risks that can threaten your operations before you get your second client. Large companies face many risks, but so do startups like yours. A customer tripping at your office or accidental damage to a client’s property, and you could have a lawsuit on your hands. A general liability insurance policy provides your Mississippi enterprise with crucial financial protection.

5 Reasons to Obtain General Liability Insurance as a Start-Up

If you are getting a new business off the ground, talk with a reputable agent about how general liability insurance can help you. They can discuss reasons such as:

1. Startups are vulnerable to lawsuits. As a startup company, you may operate with limited resources and a tight budget, making you particularly vulnerable to lawsuits. Larger corporations often have legal teams and monetary reserves to help when claims arise. Smaller companies don’t always have these options available, so one lawsuit could be financially devastating.
2. Insurance gives you peace of mind. We feel better when there’s a safety net, ensuring that your startup is financially protected if an unexpected lawsuit happens. General liability covers potential risks so that you can focus on growing your business, innovating, and attracting customers without worrying about legal liabilities.
3. Protection in the event of a bodily injury claim. If a customer slips and falls in your shop, your liability policy can help with medical and legal expenses. For example, a lawsuit could severely impact your business if a client visits your office and slips on a wet floor, breaking their arm.
4. Protection from a property damage claim. Your policy could cover damages to a third-party property caused by your business. For instance, if you or an employee accidentally damages a client’s computer during a service call, your coverage could help cover the repair or replacement costs.
5. Protection in claims of personal or advertising injury. A general liability policy also assists with defamation, libel, or false advertising claims. It’s possible that a competitor may accuse your startup of making defamatory statements in an ad campaign. Your policy may cover the legal defense fees and any settlements.

Protect Your Mississippi Startup with General Liability Insurance

Help give your new business an extra boost with general liability insurance from Hawsey Insurance. Our team is ready to help you with quality coverage for your enterprise. We will sit with you, discuss your options, review existing policies, and offer coverage solutions at reasonable rates. Take advantage of our decades of experience helping business owners like you with your Mississippi general liability insurance needs.

Call Hawsey Insurance at 601-856-7707 to request a quote for general liability insurance in Mississippi. Feel free to contact us online or make an appointment to stop by our Madison, Jackson, and Southaven, MS offices.