Colorado General Liability Insurance
Even a small accident has the potential to derail your business—but why risk it? A good general liability policy protects your company’s future if you face a liability claim.
Accidents can happen when running your business, and if it causes damage or injury to a third-party, you may face a lawsuit. Lawsuits against your business damage your reputation and can seriously affect your bottom line.
For most Colorado businesses, a general liability insurance policy is a wise investment, particularly if you work with the public. You may also need a certificate of liability insurance if you want to secure large contracts with vendors and clients.
Protects Assets & Pays Losses
A good Colorado general liability insurance policy can mitigate your loss if your company’s found liable for third-party property damage or injury, whether it occurs on your premises or elsewhere. Young Insurance can help you understand your risk and tailor a policy to safeguard your operations.
A well-crafted general liability policy protects your company’s assets and pays for any obligations resulting from a lawsuit. These can include medical costs, your legal defense, a judgment, and other losses suffered by the injured party.
In Colorado, general liability insurance also offers many other protections, which may apply to your business. For instance, product liability coverage protects you from lawsuits if your products cause injury to customers.
Personal and advertising injury coverage protects your business from the cost associated with lawsuits when someone accuses your company of libel, slander, or copyright infringement when you did not commit the crime.
Completed operations coverage protects you from the costs associated with a lawsuit resulting from your services.
The Risk Is Real
You may wonder whether you’re ever likely to face a claim, but do you really want to risk your business? Just one lawsuit could seriously impair your operation or wipe it out, and it does happen.
Back in 2012, Jensen Farms filed for bankruptcy after their cantaloupes sickened and killed many people and they were unable to pay the damages. In 2016, a Florida man filed 66 lawsuits against restaurants claiming the businesses were in violation of the Americans with Disabilities Act. Many restaurants settled out of court, but some said they could not afford it and would close their doors.
The point is you never know if or when a liability lawsuit could occur.
Tailored Coverage, Best Value
The cost of a general liability insurance policy depends on your needs and your risk, but the annual premiums are far less than the tens of thousands, or millions, you may need to spend fighting a case in court.
Young Insurance does the legwork for you to find the ideal Colorado general liability insurance policy. As independent insurance agents we serve your interests, not those of the insurance companies.
Let us find you a policy that offers the protection you need against your particular business risks at the most reasonable cost. We understand the concerns of Colorado businesses, because we’re one too.
Contact us – we’re here to help.