General Liability Insurance
What is general liability?
General liability insurance is considered the core coverage for business owners. Whether you’re a startup or you’ve been around forever, it’s one policy that all businesses need. Even if you’re still operating from a home office, you should consider purchasing this coverage as most renter’s and homeowner’s policies exclude business-related activity.
Do I need it?
Common reasons you’ll need to purchase general liability:
Your lease requires it
Your contract requires it
You want lawsuit protection for your business
What does it cover?
It protects your business from third-party lawsuits that stem from:
Bodily injury and property damage
Personal and advertising injury liability
Medical payments
General liability insurance can help cover your legal expenses and claims arising from third-party claims
What typically is not covered?
Damage to company property
Employee lawsuits
Employee injuries
Professional and personal services–in case you’re sued for negligence
To cover these, you’d have to add on other business insurance coverage.
