What is General Liability Insurance?

General liability insurance provides small businesses coverages for risks associated with customer injury, property damage to customers or other people, and advertising injury. It provides protection for your small business when lawsuits arise and can help the small business owner qualify for commercial property leases and contracts.

Does a small business need General Liability protection?

General liability is the most common insurance purchased by small business. In fact, most small companies need this insurance. If you rent or own an office or commercial space, then general liability insurance becomes more necessary. Typically, a business engaging clients through contracts will find this coverage is a requirement.

Even if not required through contract, if your small business works directly with clients and customers, or has facilities open to the public, you will benefit from commercial general liability insurance. The reality is that this type of business insurance can keep your company financially stable if you’re sued by a customer, other third-party or competitor.

General liability is so critical to protecting a small business, this is frequently the first coverage purchased directly after owners start their business.

What Does General Liability Cover?

Generally speaking, a liability policy provides the small business coverage for common lawsuits and money claims from third parties (people outside your business) for bodily injury and property damage.

A general liability policy also provides for your legal defense costs if someone sues over a bodily injury, property damage, or advertising injury. An important protection, it can pay for everything from pay for an attorney to paying for court-ordered judgments and negotiated settlements.

How Do I Get a General Liability Policy?

Before you apply, you’ll need to have a few basic pieces of information about your business. That includes your:

• Business name
• Business operations
• Total revenue from operations
• Number of employees

How Much Does a General Liability Policy Cost?

The cost of a general liability policy is based on a few rating factors. These factors include, but aren’t limited to:

• Amount of coverage or limit being requested
• The industry (or class) and the any supplemental risk factors
• The location of the business to be insured
• Number of employees
• The amount of annual revenues

General liability insurance costs an average of $52 per month. This is based on the median cost of policies written through our member agencies. In fact, 57% of small business customers pay less than $1200 per year.

Call for a quote now at 949-248-3112 or contact us