General & Professional Liability

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Everything You Need to Know About General Liability Insurance

General liability insurance is a foundational safeguard for businesses, protecting them from potential financial losses that could arise from common liability claims. It provides coverage for your business, your employees, and yourself for situations such as:

Property damage and bodily injury caused by negligence.
Personal injury, including claims of libel or slander.
Advertising-related claims, such as false advertising or limited copyright infringement.
Other liability risks stemming from your business operations.

What Does General Liability Insurance Cover?

General liability insurance covers costs associated with property damage or bodily injury that occurs on your business premises or due to your products, services, or advertising. If your business faces a lawsuit or liability claim, this coverage steps in to manage the costs, up to your policy limits. These costs include:

Defense and settlement expenses.
Out-of-court settlements.
Damages you’re found liable for.
Court-awarded judgments.
Investigation costs and attorney fees.
Bonds required because of the claim.

Additionally, this insurance covers medical expenses for nonemployees injured on your premises. In many cases, small medical claims can be resolved quickly without the need for legal action, ensuring a smoother process for both parties.

What Isn’t Covered by General Liability Insurance?

While general liability insurance provides broad protection, it does not cover every scenario. Exclusions typically include:

Automobile accidents: Covered by a separate commercial auto policy.
Employee injuries: Addressed by workers’ compensation insurance.
Professional mistakes: Errors or omissions while providing professional services require professional liability insurance.
Intentional acts: Any damages or injuries caused intentionally.
Your workmanship: Issues with the quality of your work should be covered under your company’s warranty.

Depending on your industry, you may need additional policies such as directors and officers liability, cyber liability, pollution liability, or liquor liability coverage.

Types of General Liability Policies

General liability insurance can be purchased as a standalone policy or as part of a broader package, such as a business owner’s policy (BOP) or a commercial package policy (CPP). For added protection, businesses with significant risks may also consider a commercial umbrella policy, which provides excess coverage.

There are two main types of general liability coverage:

Occurrence-based policies: Cover claims arising from incidents that happen during the policy period, regardless of when the claim is filed.
Claims-made policies: Cover claims filed during the policy period, regardless of when the incident occurred (some policies may include a retroactive date).

Does My Business Needs General Liability Insurance?

Lawsuits can be costly and disruptive, even for businesses that take every precaution. General liability insurance is a smart investment that helps protect your business from the financial impact of unexpected claims.

Ready to safeguard your business? Contact our team today to discuss a tailored solution that fits your needs and ensures comprehensive protection.

General & Professional Liability

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