We live in a society where a lot of people are sue-happy. You could have a customer slip and fall on your store floor and the next thing you know you're in a court room defending your company against a lawsuit.
That's why, as a business owner, you should never be caught without general liability insurance, workers compensation and property insurance, just in case someone becomes injured or in case property becomes damaged due to something you or your company did (or didn't do). You can browse https://www.onlinesellersinsurance.com.au/ to know more about the General Liability Insurance.
Insurance companies have a way to assess the business risk level. You might just find that you are in one of the categories that were considered low risk.
If your country has a history of giving high amount of damages for the plaintiff, you may find that the limit of your coverage is slightly higher than countries with a lower award amount.
This drastically affects the price and your general liability insurance coverage. That's why you should discuss your options with your insurance provider so that you can get the coverage your company's needs at a price you can easily afford.
How General Liability Works
When you secure a general liability insurance policy, the insurance company will pay the legal costs of your business in case of a claim or a lawsuit has been filed against it. closed items can include injury, property damage, advertising injury (damage from false advertising and defamation) and personal injury.