Commercial general liability insurance protects your business in the event of bodily injury or property damage to another person. Covered events include damage due to normal business operations. Though general liability insurance might cover a lot of scenarios, it won't cover every problem that might arise in the business.
Here's about general liability insurance.
General Liability Insurance In A Nutshell
General liability insurance is coverage for times when your business causes harm to someone else. It might cover injuries someone suffers in your business, property damage you cause, or damage caused by your products.
There are two types of general liability policies:
- Claims-Made Policies: These pay claims regardless of when the event occurred.
- Occurrence Policies: These cover the business for a set timeframe. A claim made after the occurrence policy ends won't have coverage. Once they expire, you'll need to take extra steps to still insure yourself against these risks.
When you get covered, you can include multiple individuals and entities under your policy. That way, you can extend coverage effectively to multiple parties in the business.
About Commercial General Liability Insurance
You can choose the level of general liability insurance coverage your business needs. For example, by having premises coverage on the policy, you'll guard against events that happen at your place of business during business hours. This also covers injury or damage caused by the work you perform at another location.
If you want to expand your coverage limit, you can often buy extra liability coverage. Some general liability insurance policies may exclude certain actions, such as a product recall. Therefore, if you face a risk of these losses, then you might need extra protection.
Other Business Insurance Policies
Talk to your Burke & Burke Insurance agent about other types of liability insurance besides general liability insurance. This can help you ensure your business is adequately covered.
Examples of other types of insurance include:
- Employment Practices Liability Coverage: This policy protects you from claims made by those who interview, work for or get terminated from your business. Allegations like sexual harassment, wrongful termination, and discrimination might qualify for coverage.
- Errors & Omissions Coverage: When a business' professional services or actions cause problems, then this coverage can pay. It might cover errors in financial statements or damage due to the actions of executive officers.
Examples Of General Liability Insurance Coverage
Here are a few examples of when general liability insurance might take effect:
- A customer enters your business just after you mop the floor. The customer slips, falls and breaks their arm.
- An employee of your electrical company is repairing someone's light fixture and accidentally causes a fire in the home.
- An advertisement targeting a competitor results in a claim of libel or slander.
For all these situations, businesses with adequate general liability insurance can usually rest easy. Let your Burke & Burke Insurance agent help you decide how much general liability insurance your business needs.
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