General Liability Insurance
General Liability Insurance Information
General Liability Insurance
For Companies In Somerset, Glasgow, Richmond & Surrounding Areas In Kentucky
If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.
Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.
General Liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations. The Hartford's liability programs extend far beyond the provisions of typical policies, with broadened coverage and increased limits in over 30 areas.
Broad Range of General Liability Protection
- Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury
- Property Damage coverage for the physical damage to property of others or the loss of use of that property
- Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided
- Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents
- Contractual Liability extends to any liability you may assume by entering into a variety of contracts
- Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types
Common General Liability Insurance Questions:
Do I need General Liability Insurance?
Everyone needs general liability insurance, and that includes businesses. Accidents can occur any place at any time, in the most unexpected ways. An unforeseen lawsuit can decimate a business that isn’t properly prepared. General Liability Insurance assists in lessening the burden that comes with unexpected accidents at the workplace.
How is General Liability Insurance Defined?
General liability insurance is a type of insurance that covers lawsuits and accidents related to non-professional negligent acts.
What Does General Liability Insurance Cover?
General liability insurance covers three main areas:
Bodily Injury: This covers medical expenses as well as legal fees related to a third-party injury on the property.
Property Damage: This covers incidents of property damage that occurs out of everyday business activity.
Personal/Advertising Injury: This coverage covers personal and advertising injury such as libel, slander, copyright infringement and invasion of privacy.
How Much General Liability Insurance Do I Need?
Most general liability policies start around $1 million, but your business may need to have higher limits, depending on the likelihood of lawsuits, size of the business and type of possible lawsuits.
How Does General Liability Insurance Work?
General liability insurance protects both the business and victims in an accident that results in bodily injury, property damage, and personal or advertising injury. The policyholder can either pay monthly or yearly premiums for coverage. Once a claim has been filed and approved, the policyholder will receive compensation for particular expenses related to the incident.
How Much Does General Liability Insurance Cost For A Business?
The price of general liability insurance may vary based on the location, size of the business, the claims history and industry, the deductible and applicable coverage limits. For a $1 million policy, businesses might expect to pay between $300 and $1,000 a year for coverage.
Who Does General Liability Insurance Cover?
General liability insurance covers the business and its employees, as well as any victim of a gne