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two people runningHaving general liability insurance protects your company. It gives you the financial tools to protect your company should negligence occur. Yet, it can also help you increase your customer base. In some industries, having the right business insurance opens you up to new clients and customers. Do you have what it takes to build your customer portfolio, then?

Why Do Customers Care About Coverage?

Does your average customer care that you have general liability insurance? The answer depends on who that customer is. Let’s say you own a retail store. Your customers come in to buy from you. They do not have any idea what type of coverage you have. In this situation, you still need this insurance. Your customers may not care if you have it, though, unless they need to file a claim.

What if you own a contracting business? In this case, customers come to you because they want you to build or repair something. They may be spending a lot of money. They may even be a government agency with compliance requirements to meet. In these cases, they do care what type of insurance you have. They might ask for proof before doing business with you.

Having Coverage Gives Them Peace of Mind

The key reason for this need for coverage is knowing that the company has financial protection in place. Should something go wrong, liability insurance is there to help protect the customer from the loss. Most companies investing significantly into your business may require this from the start. Yet, it is up to you to ensure you have the coverage they require.

When bidding on contracts, this is a key feature. Turn to your business insurance agent for guidance.

  • How much coverage should you have from the start?
  • What type of added liability insurance can you offer to these clients?
  • Is your policy too restricting for the client to approve?

Getting the right coverage in place is always a good thing. After all, if an accident occurs, you do not want to have to worry about those costs anyway. Yet, when you can show proof of a comprehensive policy with ample protection, you might be able to win over more customers and clients.

Work with your business insurance agent on this. Learn about the right type and amount of coverage for your company. A comprehensive general liability insurance plan provides peace of mind for all involved. It may even be a requirement before any company will work with you.

Posted 3:46 PM

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