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40.0%
OF BUSINESSES WILL FILE A CLAIM* OVER 10 YEARS
5%
OF CLAIMS ARE RELATED TO REPUTATIONAL HARM, BUT THEY ARE THE COSTLIEST. THESE ARE COVERED IN GENERAL LIABILITY POLICIES.
54.0%
OF BUSINESSES HAD GENERAL LIABILITY COVERAGE IN 2018
DO YOU HAVE MONEY SET ASIDE FOR A CLAIM?
HAVING A STOCKPILE OF EMERGENCY FUNDS IS COST PROHIBITIVE. AS A BUSINESS OWNER, TAKING MONEY OFF THE TABLE ISN'T GOOD BUSINESS. A PRUDENT BUSINESS OWNER WILL PURCHASE INSURANCE TO FINANCE THE UNAVOIDABLE CLAIMS THAT ARE EVENTUALLY MADE. GENERAL LIABILITY COVERS SOME OF THE MOST COMMON AND MOST EXPENSIVE CLAIMS AND IS USUALLY WELL WORTH THE COST.

SETTING ASIDE 1M USD FOR A CLAIM IS FINANCIALLY NOT ADVISABLE. THAT CASH CAN BE PUT TO WORK.
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MOST BUSINESSES DO NOT HAVE THE REVENUE TO PAY CASH FOR A CLAIM. THOSE THAT DO, THEY DO SO AS A LAST RESORT WHEN THEY ARE UNINSURABLE.

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BUSINESS OWNERS ALSO RECEIVE THE BENEFIT OF THE INSURANCE COMPANY FIGHTING THEIR CASE IN COURT.

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