UNDERSTANDING GENERAL LIABILITY INSURANCE
There are several common risks business owners face no matter what product or service they offer. General Liability Insurance, also referred to as Business Liability Insurance, can help protect from liability risks that may arise in the course of normal business operations.
General Liability Insurance can help protect a business owner in the event someone is injured on their property, for example, if a delivery person or client slips on a wet floor and needs medical treatment. It can also help cover costs if the business owner or their employees cause damage to someone else’s property.
In addition, General Liability Insurance can protect a business operator from claims that something they said or did caused harm to another business. It can also help resolve claims related to a business’ advertising, such as a competitor alleging that the policyholder’s advertising or logo bears a strong resemblance to theirs.
UNDERSTANDING A GENERAL LIABILITY INSURANCE POLICY
General Liability Insurance can help cover costs related to legal services, witness fees, and evidence costs in the event the business is sued. It can also help cover the costs of judgments or settlements related to those actions.
It’s important to note, though, that General Liability Insurance doesn’t cover things such as employee injuries or illnesses related to their work. Those issues would typically be covered under Workers’ Compensation Insurance. General Liability Insurance also won’t cover damage to a business’ own property. That would be covered under a Commercial Property Insurance policy. It also doesn’t cover losses due to theft or professional mistakes.
The coverage and cost of a General Liability policy depends in large part on the type of business to be covered and where it is located. It’s important to work with an experienced insurance professional to determine the types of coverage you, as a business owner, need.
WHAT WE DO
The Insurance Pros at Cell Brokerage specialize in providing affordable and customized insurance options and superior service to business owners. We partner with a variety of insurance providers, so you are presented with options that fit your needs (and budget).
Our Insurance Pros work with you to:
- Understand the types of coverage you need
- Match you with a reputable insurance provider
- Identify how much and what type of coverage you want/need
- Bundle your plan with other types of coverage to maximize your savings
At Cell Brokerage, our clients are people, not policies.