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General Liability Insurance

Your General Liability Insurance is Essential to Running Your Business

What Is General Liability Insurance?

General liability insurance helps protect your business from claims that it caused bodily injuries or property damage to others. Without general liability coverage, you’d have to pay for these claims out of pocket. General liability insurance (GLI) can be called many different things, like business liability insurance, commercial general liability insurance, business owners insurance or comprehensive general liability (CGL).

What Does General Liability Insurance Cover?

General liability insurance helps cover your costs to respond to a claim that your business caused property damage or bodily injury. It can help pay for claims of:

Bodily Injury or Property Damage

General Liability Insurance provides coverage for bodily injury or property damage resulting from business operations. It protects against medical expenses, legal fees, and damages, shielding businesses from potential lawsuits and financial liabilities arising from accidents or incidents. This coverage safeguards business assets and reputation, offering peace of mind to stakeholders.

Medical Payments

General Liability Insurance covers medical payments for third parties injured on your business premises or due to your operations. It helps pay for medical expenses, regardless of fault, including ambulance fees, hospital bills, and other treatments. This coverage protects businesses from lawsuits and demonstrates a commitment to third-party well-being.

Reputational Harm

General Liability Insurance safeguards businesses from reputational harm by covering claims related to defamation, libel, or slander. It provides financial support for legal fees, settlements, and damages stemming from false statements or damaging remarks that could tarnish a business's reputation. With this coverage, businesses can mitigate financial risks and maintain trust among customers, partners, and stakeholders.

Advertising Errors

General Liability Insurance covers advertising errors, shielding businesses from claims related to false advertising or copyright infringement. It provides financial protection for legal fees and damages, allowing businesses to operate confidently despite potential advertising mistakes.

Damage to Premises Rented to You

General Liability Insurance covers damage to rented premises, providing financial assistance for repairs or replacements if your business accidentally damages rented property during operations. This coverage helps mitigate risks associated with renting commercial spaces and ensures fulfillment of contractual obligations without significant financial burdens.

Why Do I Need General Liability Insurance?

Get General Liability Insurance to protect your business from potential risks and liabilities. This insurance coverage is designed to help you in situations where someone gets injured on your property, your advertising efforts are challenged, or you accidentally damage rented premises. With General Liability Insurance, you can safeguard your assets, maintain your reputation, and avoid financial strain from unexpected lawsuits or accidents. It's a smart way to demonstrate your commitment to responsible business practices and gives you peace of mind so you can focus on running your business without worrying about unforeseen liabilities or legal expenses.

How Do I Know If I Need It?

If any of the following apply to your small business:

  • Interacts directly with clients or customers

  • Requires insurance prior to contract engagement

  • Utilizes client equipment

  • Acts as a representative for your client's business

  • Conducts business activities at third-party locations

  • Employs contractors or freelancers

  • Operates without a fixed physical location

  • Partnership or contract mandates

  • General Liability coverage

  • Sells physical products to customers

Industries that usually need General Liability Insurance:

  • Auto service and repair

  • Contractors

  • Food service

  • Healthcare

  • Professional services

  • Recreation

  • Retail stores and services

  • Transportation

  • Wholesalers and distributors

What If I Work As a Contractor or Run My Business From Home?

As a freelancer, contractor, or home business owner, you can still reap the advantages of general liability insurance because you encounter similar risks as traditional brick-and-mortar businesses. General liability insurance holds significance for your small business because:

Provides Financial Protection

Freelancers, contractors, and home business owners may face lawsuits for damaging client property or causing injury. A general liability policy provides coverage for associated expenses.

May Be Required By Law

Certain industries, like construction, mandate independent contractors to have general liability insurance as per state and federal laws.

Clients May Require Insurance

Certain companies mandate insurance for contractors and freelancers as it shields the company from financial losses resulting from their actions.

How Much Does General Liability Insurance Cost?

Let ABCO Insurance prepare an insurance policy based on your specific needs. A qualified, licensed insurance agent is available to walk you through this process.

Call to speak to a specialist 856-488-5333

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