General Liability Business Insurance protects a business against accidents and injury. This could happen on its premises, as well as exposures related to its products.
A General liability insurance Company will protect your business from payments for bodily injury and property damage to a third party, for medical expenses, for the cost of defending lawsuits including investigations and settlements, and for any bonds or judgments required during an appeal procedure.
You can usually bid work without having a general liability insurance policy but most often you can not perform the work until you have a general liability insurance policy and commercial insurance in force. You will likely be required to provide an original certificate of insurance before beginning a job. Commercial Insurance is vital to protecting your business.
What Types of Businesses Need a General Liability Insurance Policy?
- General Contractors
- Heavy Construction Contractors
- Specialty Trade Contractors
HOW MUCH GENERAL LIABILITY INSURANCE COVERAGE DOES YOUR BUSINESS NEED?
Industry experts recommend at least $1 million to $2 million of general liability business insurance. Your general liability insurance company premium will depend on the specific risks involved and the size of your business, which is measured by sales, payroll or the number of employees. Commercial umbrellas and excess policies are also available.
What does general liability business insurance cover?
General liability insurance covers common lawsuits that arise from everyday business activities. It also protects against customer injuries, damaged customer property, and accusations of defamation and copyright infringement.
General liability insurance provides coverage for:
- Third-party bodily injury
- Product liability
- Third-party property damage
- Advertising injuries
Third-party bodily injury:
If a customer is hurt in an accident involving your business, business liability insurance can help pay for their medical expenses. It also covers most legal expenses if you are sued over the injury.
Third-party property damage
Advertising injuries (libel, slander, and copyright)
How much general liability coverage do I need?
If you are purchasing general liability insurance to fulfill the terms of a contract or lease, you need to make sure that your coverage meets the requested policy limits. The amount of coverage you need also depends on several actors such as the size of your business, its industry risks, and the number of employees.
General liability insurance does not cover:
- Professional errors
- Employee discrimination lawsuits
- Employee injuries
- Vehicles used by a business
- Damage to commercial property
Professional liability insurance, also called errors and omissions insurance, can cover lawsuits over professional mistakes, including undelivered services and missed deadlines.
Damage to business property
A business owner’s policy, which combines business liability insurance with commercial property insurance, can help cover the cost of replacing stolen business property. It can also pay for repairing or replacing business property damaged by fire or certain weather events.
Employee discrimination lawsuits
Vehicles used by a business
Our insurance company is licensed to write in Arizona, California, Connecticut, Delaware, Illinois, Maine, Maryland, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia.
Grillo & Associates has a reputation of providing excellent service.
Contact our office today. Our team of specialists will assist you in determining what policy would be best suited for your insurance needs.
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