General Liability (GL) insurance covers you, your business and all of your employees in the event that a lawsuit is brought forward against you. It will also pay for medical expenses and damages to someone else’s property if you’re found liable in a court of law.
No matter how careful you are, there is always the chance of an accident. Accidents that may cause damages to someone else’s property or certain injuries to a third party caused by you are covered under this policy. If something like this does happen, General Liability is what can save your business thousands of dollars in legal fees let alone the settlement awarded to the claimant.
General Liability insurance protects your entire company, including your employees, against different types of litigation. This type of policy generally covers -
Defending yourself, your business, or an employee against lawsuits.
Paying court awarded payouts for bodily injury or property damage.
Covering court mandated payments for medical expenses.
The standard protection offered by a GL policy is designed to cover you against the damages to others, either by direct action, or the results of your product or completed operation when they are put into use. There are other issues attached to your business operations that you may need coverage for, which we will explore in the bullet to the right.
A GL policy will also cover personal and advertising injury, generally taken as libel or slander. Other law suits can be brought against you for incidences that are not covered by the unmodified GL policy, for example allowing the theft of copyrights or other intellectual property, violating privacy rights and brand infringements.
The overall cost of general liability insurance can vary depending on a few factors.
The cost for general liability is calculated by the type of work you do, the products that you sell or make, past experience, payroll and annual revenue levels. Fill out the form below and our of our General Liability experts with help you find out which policy makes the most sense for your business.