What is general liability insurance?
A commercial general liability policy protects your business form financial loss should you be liable for property damage, bodily injury or personal and advertising injury caused by your services, business operations or your employees.
Simply put, general liability casts a wide net of protection for you and your business by covering various liabilities. The only way to effectively protect the assets of your business is to carry adequate commercial general liability insurance coverage.
Does my business need general liability insurance?
Even in the most well-run businesses, incidents happen. Whether these incidents result in property damage, bodily injury or both, they can be costly for businesses to deal with. As such, it is important for your business to be covered for a variety of possible risks.
The amount of coverage that your business needs depends on three factors: perceived risk, where you operate your business and the type of products you manufacture.
What does general liability cover?
A typical general liability policy provides coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage as a result of your products, premises or operations, and can be offered as a package policy with other coverages such as property, crime, automobile and more.
As a safeguard against liability, general liability enables you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. General liability policies also provide coverage for the cost to defend and settle claims.