General liability insurance
Commercial General Liability insurance covers business liability exposures that arise out of the conduct of a business. A business has several liability exposures, one of the most important of which is its premises and operations exposure, which is liability arising out of the business location or the activities of the business. This includes liability for bodily injury, property damage and personal and advertising injury.
An example of premises and operations liability exposure is a claim against AAA’s Appliances for injuries a customer suffers when she slips and falls on a newly waxed floor inside the store. Another example is a claim against Best Pizza for libelous statements made about the competitor’s products.
A business may also be exposed to liability by defects in its products or completed operations. Examples include a claim against ABC Bakery, LLC for injury resulting from the sale of spoiled pies and a claim against XYZ Flooring, Inc. for an injury that results when a customer steps on a carpet tack left behind by XYZ’s workers.
Contractors’ line of work includes unique risks. Be aware that contractor general liability does not cover liabilities directly arising from the professional services you provide. There would need to be a separate policy written.
There are different factors that affect the cost of general liability insurance.
- The type and size of your business.
- Limits and deductibles
- Claims history
- Experience and business longevity
Call us to learn more about how you can protect your business and employees.