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What You Should Know About General Liability Insurance

General liability insurance provides cover for the liability risks of general business.

 

General liability insurance offers cover for a wide range of liabilities. It is meant to provide cover for liability risks in general. Your general liability insurance provides your business with a safety net against litigation.

If someone sues you for injuries at your business, it will cover you. You will also have cover if you damage the property of visitors. Other cover includes advertising injury which protects you against slander and copyright violations.

General liability cover pays you out at reasonable costs for your legal defence. It also covers you for court costs and attorney fees. It will compensate you for witness fees and cover for any financial losses while participating in court procedures. Your general liability policy covers all damages and injuries. It will also cover the medical expenses of the plaintiff. 

How to Protect Your Business with General Liability Cover

General liability insurance forms an essential part of many business policies. Third parties could hold you liable for injury or damage to property, but this type of insurance can cover you in these instances.

You can get general liability insurance as a standalone policy. You can also get it in a bundle with another type of insurance. Your business owner’s policy could also include general liability insurance coverage.

How to Tell If Your Claims Will Be Honoured by This Cover

  • Physical injuries to third parties. Customers could slip and fall on your premises. They can sue you for medical bills and injuries if injured. You could be liable to cover medical bills.
  • You could be liable to cover costs for the property of third parties. Working at someone’s home or business is a risky business. General liability insurance covers you if you damage a third party’s property or belongings.
  • You could be liable for advertising injury and sued for infringing copyright. A good example is using someone else’s professional property without permission.
  • Third parties could sue you for reputational harm. Reputational harm happens when someone sues your business for slander or libel. This might be because of something someone posted or said. General liability insurance will cover litigation. This will protect your business.

You Need to Know If You Are Obeying the Rules

  • General liability won’t cover your property. Commercial property insurance will cover this claim.
  • General liability won’t cover workers’ injuries incurred at work.
  • It won’t cover work-related illnesses either. Workman’s compensation will cover work-related injuries and illnesses.
  • It won’t compensate you for errors you make in your professional capacity. Professional liability insurance will take care of these eventualities.

Is General Liability and Public Liability the Same Thing?

Public liability cover includes injuries to individuals visiting your business premises. General liability cover is more extensive. It will cover injuries to employees and damages resulting from defective products (also called product liability insurance). Both are in the same category of insurance, but they are not the same type of insurance in every respect.

How to Protect Your Business with General Liability Insurance

Public liability insurance policies usually cost less than general liability insurance but a general liability insurance policy usually covers your business for more eventualities, including accidents that occur off your premises. 

Your General Liability Insurance Covers Advertising Injury

What is advertising injury cover? According to Investopedia, advertising injury cover forms part of commercial liability insurance. It covers claims against the insured for stolen ideas, invasion of privacy, libel, slander, and copyright infringement when advertising your business, services, or products. If you advertise your business, products, or services, you may need this kind of cover. 

General Liability for Contractors

You will benefit from general liability insurance if you are a contractor. You may not have to take out full business insurance cover if you are a contractor, and may only require liability cover. This is especially true if you don’t have a commercial building. You won’t have to cover other costs like operating expenses with other kinds of insurance. Contractors can opt to get stand-alone policies to save on insurance. 

General liability insurance protects businesses against many eventualities. On our site, you can find the best general liability cover for your business needs and budget. With a selection of top brands and top insurance companies to choose from, getting the cover you need is just a few clicks away. Simply fill in our online form to get a free quote. You don’t have to settle for second best. Find the cover you deserve today. 

DISCLAIMER: The information provided in this article is meant for informational purposes only and should not be construed as legal, medical, or financial advice. Facts stated in this article are correct at the time it was published.

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