General Liability Insurance – What is it and why is it needed?

What is General Liability Insurance?

General liability insurance protects a company’s assets and pays for Property Damage or Bodily Injury due to the fault of you or your employees. Liability insurance will also cover the cost of your legal defense and any settlement or award should you be successfully sued.

What does General Liability Insurance cover?

A standard general liability insurance policy will cover:

  • Property damage
  • Bodily injury
  • Medical payments
  • Defense costs
  • Personal and advertising injury – including libel, slander and copyright infringement

Do I need general liability insurance?

If your business is open, then you certainly need general liability insurance. In this litigious society, even if you think you couldn’t possibly face a claim, obtaining insurance is a sensible investment. Depending on the type of business, your exposure and your perceived risk, liability insurance is relatively inexpensive compared to the thousands, if not millions, of dollars you may need to spend fighting a lawsuit.
If you plan on being in business for a long time, then you need to plan for the possibility that someone is going to file a lawsuit.

Do I get a discount if I buy multiple policies?

Certain carriers offer discounts if you carry more than one policy with them and some don’t. We offer a package policy called a Business Owner Policy (BOP) that combines liability coverage with business property coverage. We are a full service brokerage firm that enables us to search for the best policy for you. expired domains . We are appointed with and have superb relationships with major insurance firms and can find the policies that fit your business needs, as well as your business’ budget.

What types of industries need general liability insurance?

  • Consultants
  • Restaurants
  • Electricians
  • Landscaping
  • Contractor
  • Hair and nail salons
  • Therapists
  • Retail
  • Wedding planners
  • Manufacturers
  • Medical Offices
  • And more…
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