General Liability Insurance
General Liability Insurance:
What You Need To Know
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General liability insurance, which is also known as business liability insurance or commercial general liability insurance, is a basic form of commercial insurance coverage that protects your business from every day risks like property damage, bodily injury, and medical and legal bills that arise from such situations. Contractors, construction companies and landscapers deal with dangerous situations on the job all the time, so it’s important to have a robust liability insurance policy that protects you, your team and your business from anything that life throws your way on any given day.
How much general liability insurance do I need?
That really depends on what type of business operations your company is involved in. Commercial liability insurance covers many types of risks that contractors are exposed to quite often. Third-party property damage covers any damage that you might do to a client’s house or property, while physical injury ensures that you will not be paying medical bills out of pocket should a member of your team or another person sustain an injury on your worksite. Personal and advertising injury, which protects your business reputation against slander or false claims, is also commonly included in most general liability insurance packages. It simply depends which activities your business engages in each time it takes a job, and how you want those activities to be covered for insurance purposes.
How much does general liability insurance cost?
Again, this is highly dependent on what your business does. Contractors deal with a higher level of risk than marketing consultants do, so the price of their policy will be correspondingly higher. Even within the realm of contractors, prices can vary widely: home painters whose work is mostly inside will likely pay less for the same amount of coverage than outdoor roofing and renovation companies. This is why it’s crucial to speak to an agent that understands the needs of your business and can recommend the correct products.
General liability insurance for contractors is as important to the success of your business as a trusty hammer or tape measure. If you’re curious about how to take the next step in protecting your business and your employees, visit our website or give us a call today to request a liability insurance quote. We’ll work with you to make sure that your policy package addresses your specific needs and that you never are taken unaware by an accident ever again.
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