General Liability Insurance
General Liability Insurance Information
When running a business, general liability insurance is one of the first policies you will hear about. This is because general liability is one of the biggest dangers a new business can face in the infancy of operation. If a lawsuit is filed against your business, you will have you find a way to pay for legal expenses, defense costs, court fees, possible settlement expenses and more.
At Advance Insurance, we understand that every business faces unique risks day in and day out. Our insurance professionals are dedicated to helping businesses like yours find the right general liability insurance policy to protect your assets from an accident or lawsuit.
What is General Liability Insurance?
General liability insurance is a liability policy designed to cover common accidents and lawsuits that could face your business.
Coverage under general liability insurance falls into three main categories:
Medical Payments and Property Damage
General liability insurance can cover medical bills someone else may face if they are injured on your business’ property. For example, say someone trips and falls in your restaurant. General liability insurance can pay for expenses such as emergency services, procedures, doctor’s visits and more.
It can also cover replacement and repair costs in case someone’s property is damaged due to the course of everyday business. If someone’s expensive jewelry is broken at your indoor trampoline park, for example, this insurance can help replace or repair the damages.
Personal and Advertising Injury
Personal and advertising injury coverage covers claims against the business concerning libel, slander, malicious persecution, theft of an advertising idea, copyright infringement and other incidents. This can cover legal expenses concerning these types of claims, as well.
Another part of general liability insurance helps protect the business in case of a general liability accident. If a lawsuit is filed against your business concerning a general liability accident, this insurance can provide compensation for legal expenses such as court fees, defense costs, settlement costs and more.
Additional Liability Options
General liability insurance only covers non-professional negligent accidents. To expand your coverage, you may choose to bundle it into a (BOP). A BOP combines general liability and commercial property insurance into a policy for small businesses. Other liability insurance you may add include:
Protect Your Business with General Liability
Not all general liability insurance policies are created equal. Call Advance Insurance at 801-226-1100 or fill out an online quote form to find the right general liability insurance policy today.
Common General Liability Questions
How Much General Liability Insurance Do I Need?
Every business’ liability insurance needs are different. You typically need higher limits of general liability if your business is larger or faces higher risk of a lawsuit. Speak with an insurance agent about insuring your business with the right amount of general liability insurance.
How Much Does General Liability Insurance Cost?
The cost of general liability insurance varies depending on your location, the business’ coverage limits and industry, and other factors. Fill out a quote form to find out how much you can save on general liability insurance.
How is General Liability Insurance Calculated?
General liability premiums are primarily based on your business’ level of risk. The more at risk you are to file a claim, the more you may pay for general liability insurance.
Why Do I Need General Liability Coverage?
General liability insurance is crucial for protecting common accidents that face businesses across industries day in and day out. Even small businesses with low risk could face heavy financial loss when it comes to a lawsuit, which is where general liability insurance steps in.