No matter the size of your business, you are at risk of various forms of liability. Some of the consequences of operating without CGL insurance may include:
Shouldering the costs of the legal process and any financial losses that stem from a lawsuit, if you’re found legally liable.
Potential damage to your reputation with clients and customers as a result of a lawsuit.
Loss of revenue from being unable to attend events or take certain jobs. For instance, if your business participates in tradeshows or markets, the venue will often request a certificate of liability coverage. Contractors may also run into trouble: some customers will require proof of insurance before allowing you to conduct work on their property.
