Mississippi General Liability Insurance
Mississippi general liability insurance, or commercial liability insurance, is the best way to protect the company you own in case of an accident. If would like quotes on Mississippi general liability insurance, fill out our easy form today. You can compare insurance rates and even purchase Mississippi general liability insurance from the comfort of your living room. Why not shop today and start covering your Mississippi business tomorrow.
Mississippi general liability insurance is protection of your business in case of accidental damage or injury resulting from a service or product you provide. General liability can take many forms. You can have bodily or personal injury, property damage, false advertising, or even public injury. If you think you do not need liability insurance, think about what would happen if you were to be sued or if someone were to be injured on your property. The associated costs could be astronomical, and if you are a small business, could be devastating. Fortunately, Mississippi general liability insurance is not cost prohibitive, especially when you compare it to the potential costs.
Legal damages are one of the most costly expenses a business can incur. Damages can be compensatory, general, or punitive. Mississippi general liability insurance can provide coverage for legal damages as long as you or an employee did not willfully commit the damages. If you are a company who has a strong risk for lawsuits, you might also want to consider an umbrella policy, which would provide coverage where your general policy stops. No matter what type of business you own in Mississippi, a general policy is necessary to protect that business.
Injury and Property Damages
There are many ways a Mississippi business can incur costs due to liability. Bodily or personal injury is harm to a person's body either physical or mental, which results in medical assistance. For instance, if you own a vehicle repair shop and a customer were to be knocked down by a rolling tire, you would be liable for the customer's injuries. If that same customer sued you, you would also be liable for the litigation costs. Personal injury can also mean harm to a person's emotional state. This is most commonly known as pain and suffering in a lawsuit. Keep in mind, you can be liable for someone being injured on your property even if they are trespassing.
Property damage is defined as physical harm to someone's property. This can occur either at your place of business or at a customer's location. If you are a Mississippi contractor, for example, and one of your employees accidently knocks a hole in the wall of one of your customer's, you would be liable for the damages. Property damage is not confined to a home or business. It also includes all personal property owned by the customer. Let's say that the employee knocked over your customer's vintage lamp, or spilled paint on their carpet, all of these items are covered under property damage insurance.
The examples above are just a small sample of the items that can go wrong on a Mississippi jobsite or at a company's location. The risks associated with the business you own are specific to the industry you are in. Mississippi general liability insurance can be tailored to fit the needs you have. It only takes a small incident to create a major cash outlay for injury or damage.
Mississippi general liability insurance will also cover litigation costs up to a certain limit. These would include paying the attorney's fees, fines, and other costs associated with the legal ramifications of liability. Compensatory damages are defined as the monies lost due to the damages. Examples of this would be if a customer were to be injured and could no longer work, you might be liable for the money they would have made had they not been injured.
General damages include the pain and suffering or mental anguish talked about in the paragraph above. This is a very broad type of damage and can be very costly if brought into the suit. Punitive damages are any charges or penalties the business must pay for the damage they caused. These are generally awarded to the customer by a court of law and vary according to the nature of the damage.
If you review the risk associated with personal injury, property damage, and legal costs, you will quickly see how even one accident can be very costly, especially to a small business. Mississippi general liability insurance can provide you with protection from these costs. Whether you are a restaurant owner in Biloxi, MS, or a general contractor in Jacksonville, MS, there is a policy that will fit the needs you have. Compare quotes from reputable insurance providers in Mississippi by shopping online today and find the liability insurance to cover your business for tomorrow.