Business owners and contractors need general liability (GL) insurance to safeguard their financial health. A single accident could lead to a lawsuit that could put you out of business unless you have adequate liability coverage in place. GL insurance provides protection from a variety of claims that could arise from business operations, including bodily injury, property damage, and personal injury.
What General Liability Insurance Covers
General liability coverage may be included in a business owner’s policy (BOP) or written as stand-alone coverage. It can protect your business from a number of risks, including property damage, bodily injury, damage to rented premises, medical payment, advertising errors, and harm to reputation.
Property Damage and Bodily Injury
This coverage helps protect against claims alleging bodily injury or property damage caused by your business operations or products.
Damage to Rented Premises
If your business is occupying rented premises, GL insurance can provide protection against damage to the premises caused by fire, lightning, or explosions.
If a person is injured on business premises, general liability insurance can help protect against claims for costs of medical treatment.
This insurance can protect your business against claims associated with advertising your goods, services, or products.
Harm to Reputation
GL insurance can provide protection against claims of slander, libel, wrongful eviction, malicious prosecution, and violation of the right of privacy.
General Liability Insurance Costs
The cost of general liability coverage for your business is affected by a number of factors, including:
- Type of business
- Number of employees
- Level of risk exposure
- Location of business
Some businesses, by their very nature, have higher risk exposure than others. Our agent at Minnesota Employers Insurance Services in Maplewood, Minnesota, can help you obtain complete general liability coverage for your business, and we focus on finding the best level of coverage at the lowest possible rates.