If someone falls while visiting your business premises, or a customer is hurt by a product your business produces, you can be held responsible. That’s the risk that liability business insurance covers. At The Gann Agency, we offer business insurance in Arkansas.
In a 2004 survey released by the National Federation of Independent Business (NFIB), 30 percent of small business owners ranked the cost and availability of business insurance as the second most important insurance concern they faced. (Health insurance ranked first).
Liability insurance, also called Commercial General Liability (CGL), covers four categories of events for which you could be held responsible: bodily injury; damage to others’ property; personal injury, including slander and libel; and false or misleading advertising. CGL coverage pays for the injured party’s medical expenses. It excludes your employees, who are covered by workers’ compensation. (For details see workers’ compensation section of this site). Bear in mind that even trespassers can sue you if they fall and get hurt on your business premises!
There are three types of legal damages people may sue you for that are typically covered by a CGL policy:
- Compensatory damages: financial losses suffered by the injured party and future losses they may suffer resulting from an injury they claim in the lawsuit.
- General damages: non-monetary losses suffered by the injured party, such as “pain and suffering” or “mental anguish.”
- Punitive damages: additional penalties and charges the defendant must pay.
With the ability to write anywhere in Arkansas and Texas, our hope is that you look to us to find affordable business insurance in Arkansas. We look forward to offering you the most convenient insurance process. You've come to the right place if you're looking for an online business insurance agent in Arkansas.
If you happen to be local, looking for business insurance in Benton, Arkansas, don't hesitate to call us. We offer the most convenient insurance process. Even you, the local folks, never have to step foot in our office.
Send a message to one of our insurance agents. We love serving others. Business insurance in Arkansas allows us that opportunity.