Once of your business' aims is to bring in customers. In an attempt to do so, you might advertise that your company offers a specific product that you claim is unique. But what if another company owns the legal rights to that product?
There are many ways advertising can cause financial harm to others. General liability insurance may help you overcome such claims. Here is a look at how it may apply.
Finding The Right Protection For Your Company
Most general liability insurance plans provide basic coverage for advertising mistakes. However, you can also purchase advertising injury coverage if you believe there is a higher risk of having this type of claim made against your business.
In most cases, companies do not set out to make mistakes in their advertising. Most do a good amount of work to minimize such risks. Yet, mistakes can happen. When they do, you need to have the right type of liability insurance available to cover your losses.
That is not always easy to do. So, with the help of your Select Insurance agent, work to determine how much and what type of coverage is best for your company.
What Types of Offenses May Have Coverage Here?
The answer to this question really depends on the policy. However, it can include losses related to libel and slander. It may also cover product disparagement claims. It may cover other situations in which someone claims to have some type of financial loss from the advertising claims your company made. You may find this includes such items as copyright and slogan use. If you use someone else's unique advertising idea, they may claim that doing so hurt their business. There are many ways someone can claim this.
Whether or not these claims can stick is not important. Your insurance company will work to represent you if a company makes such claims. It is their goal to help protect your business from liability claims like this. Should someone make a claim, contact your Select Insurance agent for information right away. They can help you to handle the situation.
Be sure to work with your Select Insurance agent to get into the right type of general liability insurance plan. You need to have enough coverage to minimize risks to your company. You also need to be sure it is comprehensive enough. It should provide for most types of advertising risks your business could face. Your Select Insurance agent can help you find the right balance of protection.