General Liability Insurance

General liability insurance, also known as business liability insurance, is a type of insurance that helps protect businesses from financial loss in case they are held legally responsible for bodily injury or property damage caused by their operations, products, or services.

Who needs general liability insurance? Any business interacting with customers, clients, vendors, or the general public can benefit from general liability insurance. This includes small companies, startups, and large corporations in a wide range of industries, such as construction, retail, hospitality, healthcare, and professional services.

What does general liability insurance cover? General liability insurance typically covers the following:
1. Bodily injury: If a third party (e.g., customer, client, or visitor) is injured on your business premises or as a result of your operations, your general liability insurance can cover the medical expenses, legal fees, and other damages associated with the injury.
2. Property damage: If your business causes damage to someone else's property, such as a customer's car or a neighboring building, your general liability insurance can cover the cost of repairs or replacement.
3. Personal and advertising injury: If your business is accused of libel, slander, copyright infringement, or other types of non-physical harm, your general liability insurance can cover the legal fees and damages associated with the claim.

What is not covered by general liability insurance? While general liability insurance provides broad coverage, it does not cover everything. Some examples of things that are typically excluded from coverage include:
1. Employee injuries: If one of your employees is injured on the job, you will need workers' compensation insurance to cover their medical expenses and lost wages.
2. Intentional acts: If you or one of your employees intentionally causes harm to a third party, such as assaulting a customer, your general liability insurance will not cover the damages.
3. Professional errors: If your business provides professional services, such as legal advice or medical treatment, you will need professional liability insurance to cover errors or omissions in your work.

How much does general liability insurance cost? The cost of general liability insurance depends on a variety of factors, including the size and type of your business, your location, your industry, and your claims history. Small businesses can typically expect to pay a few hundred dollars to a few thousand dollars per year for general liability insurance.

Why is general liability insurance important? General liability insurance is essential because it can help protect your business from financial ruin in case of a lawsuit or other legal claim. Without insurance, a single accident or injury could result in costly medical bills, legal fees, and damages that could put your business at risk of bankruptcy. With general liability insurance, you can have peace of mind knowing that your business is protected from unexpected events.

Please contact one of our knowledgeable insurance agents to learn more about your coverage options and get a quote for general liability insurance.

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