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General Liability Insurance for Small Businesses

General Liability Insurance for Small Businesses

It’s simple math: insurance producers who can meet the needs of a variety of clients write more business. The more potential prospects you have in your sights, the greater your chances of success. You can attract those clients by offering more types of coverage suited to their specific requirements. Writing general liability insurance for small businesses is a great way to extend your work to smaller companies, while ensuring that your clients have the risk protection they need.

Small business owners often hear that they don’t need the same products and services as larger corporations. They may be under the impression that general liability insurance is only for big companies. Or, decision-makers running businesses with smaller budgets might feel that they are saving money by not investing in insurance, without realizing the true financial risk this poses.

General liability insurance is beneficial for businesses of all sizes. To attract and retain clients, you will need to showcase why general liability insurance for small businesses is such a good fit. It’s a worthwhile endeavor. By showing your small business clients that general liability insurance is essential for businesses of all size, you will play an important role as an insurance producer that cares about all its clients, regardless of size.

Benefits of General Liability Insurance for Small Businesses

General liability insurance covers against risks faced in normal business operations, including bodily injury, property damage, and personal injury in circumstances like libel and slander. Therefore, it’s something that businesses of all sizes can use. Any investment a small business makes needs to feel worthwhile, so it’s important to point out the specific benefits for general liability insurance for small businesses.

Just like any other business, small business owners are often held legally responsible for damages that happen at their business or as a result of something they, or the business, did. Even if a business hasn’t done anything wrong, a lawsuit can arise. They can be financially devastating, especially for a smaller company with fewer assets than an international or multinational firm.

Small business owners have often invested a lot of their own time, assets, hopes, and dreams into their business. The financial damage of a lawsuit and the ensuing fallout – which can impact business reputation, client relationships, and employee morale and productivity – can shutter a small business. While a corporation might be able to bounce back, a small business is likely to face a huge challenge when it comes to liability suits.

Between 36 and 53 percent of small businesses are involved in at least one litigation each year, putting the odds of a lawsuit uncomfortably high. General liability insurance for small businesses pays for defense and similar costs. If your client is concerned about the cost of investing in insurance, have them consider the financial impact of a major lawsuit and explore the value of preventative measures.

Investing in general liability insurance for small businesses also helps legitimize a small business and its operations. It shows that the company cares about liability and risk, and it opens the doors for more opportunities because many contracts, events, and partnerships rely on the existence of general liability insurance to protect all parties.

Small business owners have a lot to consider and a lot to do. General liability insurance coverage can offer peace of mind for busy, maxed out business owners who know that they have a lot on the line. Knowing that there is risk mitigation and lawsuit protection on their side helps business owners focus on regular operations and continue to grow the company, instead of constantly worrying about liability and litigation.

Partnering with Prime Insurance Company

At Prime Insurance Company, we work hard to ensure that each producer can write insurance specific to the needs of their clients. So, if you are working with a small business client, you can rest assured that the general liability insurance is for small businesses specifically. We won’t offer you a watered-down policy previously used for a large corporation.

We are also an excellent partner when your clients’ circumstances have made accessing insurance difficult in the past. We are committed to finding solutions for difficult risks, including cancellations, declines, and other exclusions. If there is a way to provide general liability insurance for small businesses to your client, we will find it.

To get started with a quote, use our online form to provide the details of your general liability insurance for small business needs. You can also give us a call at 800-257-5590 or contact us at quotes@primeis.com. We are looking forward to helping you write more business, providing fair and fast claims services to your customers. Check out our Facebook, LinkedIn, Twitter, YouTube, and Instagram for more.


rick lindseyReviewed by Rick Lindsey, Owner of Prime Insurance

Rick Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Prime Insurance also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are Prime Insurance can help.

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