Adequate General Liability Insurance, also referred to as Business Liability Insurance, is the only way to effectively protect your business from damages involving bodily harm or property damage for which your company is found legally liable.
Typically, this coverage extends to include other physical injury, personal injury (libel or slander), advertising injury and property damage caused by your products, premises or operations. Some General Liability Insurance plan also additional coverage, such as if you are held accountable for damage to your landlord’s property. General Liability Insurance safeguards against liability, which enables you to continue normal operations while dealing with real, or fraudulent claims of wrongdoing.
Depending on your coverage, your plan may include:
- Automatic additional insured: Coverage is provided for written contracts, agreements and permits.
- Personal and advertising injury: Protects against offenses made by you or your staff during the course of business, such as libel, slander, disparagement or copyright infringement in advertisements.
- Defense costs: Provides coverage for legal expenses for liability claims brought against your business, regardless of who is at fault.
- Medical expenses: Provides coverage for medical expenses if someone is injured on your premises or by your products.
- Premises and operations liability: Provides coverage for bodily injury and property damage sustained by others on your premises or in conjunction with your business operations.
- Products liability: Provides coverage for bodily injury and property damage sustained by others as a result of your products.
It is important to note that General Liability Insurance does not cover employee injuries, auto accidents, or intentional acts
It is imperative to discuss your business, services, products and operations with an experienced Insurance Agent to ensure there are no gaps left by your General Liability Insurance Plan. The amount of coverage your business needs depends on a variety of factors, including Risk, Location, and Industry.