Our Analysis
What is General Liability Insurance?
Businesses interact with many people, including clients, customers, and contractors. One or many of them could claim that your business caused them bodily injury or property damage and file a lawsuit. This may expose your business to legal costs and damages. General Liability Insurance protects your business if this occurs.
Why does my business need General Liability Insurance?
- It protects you if you are sued.
- A contract requires proof of it.
- A lease of space requires proof of it.
- A lender requires proof of it if you are financing a building.
- A company requires proof of it before they hire you as a vendor.
Our Actionable Advice
What does General Liability Insurance Cover?
- Premises Liability coverage protects against costs of injuries that occur on your business property like slips and falls.
- Product Liability coverage protects against the cost of damage to property and injury to people caused by your products or services; for example, your employee’s work damages a client’s home, property, or person.
- Personal and Advertising Injury Liability coverage protects against costs associated with slander, libel, and copyright infringement in your advertising.
What does General Liability Insurance Not Cover?
- Commercial auto accidents. You will need a separate Commercial Auto Policy.
- Employee injuries or illnesses. You will need a separate Workers’ Compensation Policy.
- Damage to your own business property or theft or burglary. You will need a separate Commercial Property Policy.
- Mistakes or errors in professional services. You will need a separate Errors and Omissions Policy.
- Illegal acts or wrongdoing.
- Claims that cost more than your liability limits. You will need a separate Umbrella Policy.
The Big Takeaway
The Whitlock Group has over 30 years of risk expertise and experience managing and mitigating General Liability Risk.
For comprehensive business insurance solutions or if you’re unsure whether your business is covered adequately, contact us today.
Greg Whitlock, President
678-906-2008 ext. 1200
Cell: 404-218-8706
Resources:
- General Liability Insurance, Travelers