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Your business takes as many precautionary measures as possible to prevent harmful incidents from occurring. But accidents can and do happen, no matter how careful your business is. If an incident at your business injures someone else or damages their property, they may file a lawsuit against the business. A General Liability Insurance policy protects your business from financial loss when these types of accidents occur. The licensed insurance agents at Excellence First Insurance can help you understand the General Liability coverage options available to your business and find the policy best suited for your business’ unique needs.

What is General Liability Insurance?

General Liability insurance, also commonly known as business liability insurance, provides coverage that protects your business from the costs associated with a business liability lawsuit. Your business’ General Liability Insurance can help you pay for the various costs associated with your legal defense, such as fees for document preparation, hiring expert witnesses, court fees, fines, legal representation both in and out of court, and awards granted by the court.

What Does General Liability Insurance Cover?

If an incident occurs at your business and results in a lawsuit, your business’ General Liability insurance helps pay for the costs your business is found legally responsible for. A standard General Liability insurance policy usually includes the following types of coverage:

Bodily Injury and Property Damage Liability

If an accident occurs at your business and injures a third-party, this coverage helps pay for the costs associated with their injuries. This can include incidents such as a customer or guest slipping and falling on a wet or uneven surface or an employee accidentally bumping into a customer and knocking them over. However, this coverage only applies to a third-party visiting your business, it does not apply to injuries sustained by employees. This coverage also helps pay for costs associated with business operations that result in third-party property damage.

Personal and Advertising Injury

Some injuries aren’t physical. If your company says or writes something that damages the reputation or profitability of another business or individual, this coverage helps pay for the costs of those injuries. Personal and Advertising Injury coverage can apply to damages caused by libel, slander, malicious mischief, copyright infringement, wrongful eviction, privacy violations, and more.

Medical Payments

If your business cause physical injury or harm to a third-party, this coverage helps pay for the related medical expenses such as medical bills and diagnostic testing. This coverage also helps pay for funeral expenses your business is responsible for. But this coverage only applies to third-party individuals such as customers or visitors, it does not cover injuries or deaths to employees.

Products Completed Operations

This coverage helps pay for the costs of physical injuries, illness, or property damage caused by your business’ products or completed operations. Products are the goods your business manufactures, sells, or distributes. Completed operations are the completed services or work performed by your business.

Damage to Premises You Rent

If your business uses land, buildings, or other structures not owned by the business, this coverage helps pay for costs of property damages resulting from your business’ use of the property.
Contact Excellence First Insurance today and let our licensed insurance agents find the liability protection your business needs. We work with several competitive insurers and can help you customize your General Liability Insurance policy for the best protection within your budget.

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