What is General Liability coverage?
General Liability can protect you from an array of claim scenarios. These types of claims can be expensive! Protecting your business is essential. So, what is covered?
- Bodily Injury: If an individual is injured at your place of business. This could be as simple as a slip and fall.
- Property Damage: If an individual’s property is damaged at your property. So, this could also cover damage while business is conducted at someone’s home.
- Reputational or Advertising Harm: If your business defames a person or company.
What does General Liability not cover?
Like most insurance policies, exclusions do apply. So, what is not covered?
- Employee Injuries: This is where your Worker’s Compensation coverage would kick in.
- Auto Accidents: Auto accidents while doing business are not covered. This would be covered under commercial auto insurance.
- Professional Mistakes: An Errors and Omissions policy would provide this coverage.
- Damage or Theft: If your business suffers damage or theft loss, that would be covered under commercial property insurance.
How much is this coverage?
There are a few factors that go into the premium. Including things like business size, location, industry type, and coverage amounts. All of those things will play a role in the price. However, the best practice is a personalized quote. A licensed broker can help you with your coverage needs.