General liability insurance can protect you from a variety of claims including bodily injury, property damage, and other losses that may occur as a result of your business operations.
When it comes to your business, no matter how careful you are, a lawsuit can arise, even out of something that wasn't your fault. What if you couldn't afford the defense costs? That's where this coverage can step in.
If you wanted to also get business personal property covered, you should look into a business owners insurance policy (also called a BOP).
What's typically covered?
- Property damage–damage to property that you're legally liable for (including rental property).
- Bodily injury–injuries to persons for which you are legally liable (excluding employees, who would be covered under a workers' compensation policy)
- Medical payments–bodily injury that occurs during your business operations or on your business premises.
- Defense costs–lawsuits against your company, regardless of fault.
- Personal and advertising injury–claims of slander and libel (excluding professional services, which would be covered under a professional liability policy)
Do I need general liability insurance?
Are you starting a business? Signing the lease on a new space? Or did you just land a huge new client? Chances are you’re going to need general liability insurance.
You can never be too careful. Even if you aren't required to carry this coverage, being properly insured is critical to protecting your business.
If you think you need more coverage, consider these other specialized forms of liability insurance
- Contractors’ liability–for plumbers, roofers, electricians, etc.
- Professional liability–for architects, videographers, designers, etc.
- Products liability–for manufacturers, wholesalers, distributors, etc.
Each business has different needs. We're here to help if you have questions!