General liability insurance, also known as commercial liability insurance, is a type of business insurance policy that helps protect businesses from a variety of claims including bodily injury, property damage, personal injury, and advertising injury. This type of insurance is important for businesses of all sizes as it can help cover the costs of legal fees, settlements, and judgments that may arise from these types of claims. This is one of the most important coverages that a business needs, and is needed for businesses in every industry.
What is Covered by a General Liability Insurance Policy?
There are several types of coverage included in a general liability insurance policy, including:
- Bodily Injury Coverage: This type of coverage helps protect a business if someone is injured on the business’s property or as a result of the business’s operations. This could include slip and fall accidents or injuries sustained while using the business’s products just as a couple of examples.
- Property Damage Coverage: This type of coverage helps protect a business other people’s property is damaged as a result of the business’s operations. This could include damage to a customer’s property caused by the business’s products.
- Personal Injury Coverage: This type of coverage helps protect a business if someone claims that the business has defamed them or invaded their privacy. This could include claims of libel, slander, or false advertising.
- Advertising Injury Coverage: This type of coverage helps protect a business if it is accused of infringing on the copyright or trademark of another business in its advertising efforts.
In addition to these types of coverage, a general liability insurance policy may also include coverage for medical payments, fire legal liability, and products and completed operations.
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Depending on your industry and the carrier, some of these coverages may be excluded. You will want to ask your agent or review your declarations page to see specifics for your policy.
How to Buy General Liability Insurance
The most common ways to buy general liability insurance is online or through an insurance agent. It’s important for businesses to carefully consider their insurance needs and purchase a policy that provides adequate coverage. Working with an independent insurance agent, like Think Safe Insurance, is usually the best way. As an independent agent, we can gather the details of your business and shop your policy with multiple insurance companies to make sure it is tailored to you business.
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Several online tech companies like Next insurance provide ways for you to shop and buy your own policy. This can be convenient, but may not have the best coverage or the best price for your industry. Also, many independent agents can actually provide quotes for these companies as well if they would be a good fit for your business.
Business owners should also review their insurance policies regularly to ensure that they are still adequately covered as their businesses grow and change.
What if I Need More Coverage Than my General Liability Limit?
If you need more liability coverage, you can request higher limits on your general liability policy, or you may want to get a quote for commercial umbrella insurance.
Conclusion – General Liability Insurance
Overall, general liability insurance is an important investment for businesses of all sizes. It helps protect businesses from a variety of claims and can cover the costs of legal fees, settlements, and judgments that may arise from these claims. By purchasing a comprehensive policy, businesses can have peace of mind knowing that they are protected in the event of an unexpected incident.
Request a General Liability Insurance Quote
To get a General Liability Insurance quote for Florida, you should contact our team at Think Safe Insurance. We will walk through the details of your business and get quotes from the best carriers to fit your needs. Give us a call at 813-425-1626 or request a quote online.
We are always happy to answer any questions. Also, if you have any needs for your business, we have built a great network of experienced professionals, like CPAs, financial advisors, digital marketers, etc. If you need a recommendation on any of those, just ask. We are happy to share.