Accidents can happen anywhere, even in the safest of business environments, and some incidents can lead to costly lawsuits. General liability insurance can provide financial against unforeseen events that could otherwise devastate your business.

What Is General Liability Insurance?

General liability insurance is a type of insurance that can help provide coverage for accidents and lawsuits resulting from non-professional negligent acts. It is designed to help protect businesses from financial losses due to third-party claims of bodily injury, property damage and personal or advertising injury that occur on company property or because of business operations.

What Does General Liability Insurance Cover?

General liability insurance typically covers the following common areas:

• Bodily injury—If a customer or third party is injured on your business premises, this insurance may help cover medical expenses and legal fees.
• Property damage—It may help cover costs if your business operations cause damage to someone else’s property. For example, if an employee accidentally breaks a client’s window while working.
• Personal injury—This may include nonphysical injuries such as libel, slander or copyright infringement. If someone sues your business for these reasons, this may help cover legal costs.
• Advertising injury—If your business is sued for issues like copyright infringement in your advertisements, this insurance may help with the legal expenses.
• Reputational harm—It may cover legal costs if someone sues your business for defamation or similar claims.

How Does General Liability Insurance Work?

When a business purchases a general liability policy, it pays a premium, either monthly or annually, to the insurance provider. If a covered incident occurs, the business can file a claim. After the claim is approved, the insurance company provides financial support to help cover expenses related to the incident, such as legal fees, medical bills or repair costs, according to the policy’s terms.

How Much Does General Liability Insurance Cost?

The cost of general liability insurance can vary based on several factors, including the business size, location, industry, claims history, deductible and coverage limits.

Where Can I Get General Liability Insurance?

LIA-Lalani Insurance Agency specializes in assisting business owners across different industries find and tailor general liability policies to meet their unique needs. Contact us today or request a free quote.