PROTECT YOUR BUSINESS

What is General Liability Insurance? 

General liability insurance protects against financial loss associated with bodily injury and property damage to third parties. This form of coverage also includes protection against claims of copyright infringement, slander, or libel. 

While the chances of your business coming under attack may seem small, their impact can be monumental. One claim is enough to financially decimate your business – the legal costs alone could create irrecoverable damage. Not to mention, fighting a claim requires time and attention that could be better spent on your business.

Whether you’re responsible for causing harm, or simply tied up in legalities, General Liability Insurance gives you the satisfaction of knowing your business and your finances are not on the line.

What does General Liability Insurance cover?

You may not know all the risks your business faces. General Liability insurance protects your business from some of the most common risks it may become exposed to. 

General Liability Insurance protects you as the business owner, the business itself and your employees from claims of property damage and bodily injury. It covers all associated costs, such as legal costs, medical costs and settlements. 

Here are some examples of what this form of insurance would cover:

• Property Damage
• Bodily Injury
• Personal Injury
• Product Liability
• Legal Expenses

It’s important to note that general liability often excludes risks such as Professional Liability, Cyber, Employment Practices, among others.

How much does General Liability Insurance cost? 

General Liability insurance premiums will vary based upon several factors.  Each policy is rated on different exposures which may include revenue, payroll, area, and number of units, among other factors.

Do I need General Liability Insurance?

If you are a business owner, you would likely benefit from General Liability Insurance. If you have employees, interact with customers or customers’ property or have a location that is open to the public, you are facing risks that General Liability Insurance would protect against.  

General Liability Insurance is not just for big businesses. Even if you work alone, this form of coverage may be necessary. For example, contractors and independent consultants can face personal injury claims while on the job. Without insurance, facing these claims could be financially devastating and force you to miss out on days, if not months, of work. 

Is General Liability Insurance required by law?

Generally, no. It is not a requirement that all businesses have this coverage, however, it may be required of businesses performing a certain scope of work (for instance, construction). 

In addition, most landlords will require documentation of this form of coverage before leasing office or work space. This protects them from risks associated with someone being hurt on the property. Banks may also request proof of insurance prior to approving any business loans. 

Insurance regulations vary by state, so it is important to check up on your local requirements…

How do I get General Liability Insurance?

Take Our General Liability Assessment

Speak with one of our professional risk advisers who will identify your specific risks and design a customized solution that meets your needs. There is no obligation – just expert advice.