Most employers need general liability business insurance to protect their businesses against lawsuits that may result from negligence or other actions on the part of their employees or contractors. For example, if you’re a homeowner in the building business, you will be required by law to have general liability business insurance even if your employer does not request for such form. If you own your own contracting business, you may need to get a separate policy if your company is sued repeatedly for injuries or damage that has been sustained by customers or employees. No matter what type of contractor or business owner you are, having this kind of insurance is critical for your financial future.
There are several types of general liability insurance quotes available for any business, including general liability coverage for contractors, general liability coverage for employers, and special coverage for property damage. It’s important to shop around for the best policy at the best price to ensure you get enough coverage to meet your needs. The first step in shopping for coverage is to learn about the different types of insurance. A comprehensive guide to general liability insurance quotes can help you do this.
General Liability Business Insurance protects you against damage or injury claims made against you by a third party.
Typical incidents covered under general liability insurance include death from a vehicle accident, injury caused by an act or negligence, damage to real property, and computer or machine damage. In order to determine what kinds of incidents are included in a general liability policy, contact an experienced professional agent who can explain the ins and outs of the different kinds of coverage and how they may affect your business. For example, did you know that liability coverage doesn’t always include property damage?
Commercial Activity Liability Insurance is designed to cover the legal costs related to any activity that results in damage or injury to a person or property. Examples include advertising injury claims, for injuries caused by the use of signs, banners or other promotional materials, or pollution claims, which may be brought against producers or distributors of products causing negative environmental impacts. Some common claims include advertising injury and legal costs resulting from invasion of privacy, defamation, and libel. As the cost of printing and distributing promotional materials rises, so does the cost of these kinds of claims. If you’re unable to cover your costs from advertisers, you may be out of luck if a competitor has done some damage to your business name or products.
Medical Payments Coverage pays for expenses and medical bills related to injury or illness caused by you or your business. Most polices offer general coverage that pays up to one thousand dollars per occurrence. However, some companies also offer coverage that covers fifty thousand dollars per occurrence for the most serious injuries or illnesses. This level of coverage is designed to not only pay for medical bills and expenses but also to cover other expenses related to a medical emergency such as transportation to a specialist or to the emergency room. In order to determine the financial impact of a lawsuit against you, lawyers will often look at the medical bills as well as the amount you spent on your hospital stay.
Employers and employees are often at risk when working with hazardous products.
Many employers purchase PPE, or personal protective equipment, to protect their employees from workplace injury. However, when PPE fails to prevent an injury, it can force an employee into financial hardship and may force him/her to file a lawsuit. If a lawsuit is filed against an employer who failed to properly install safety equipment or who was aware of safety issues but did not take action, employers could be held financially liable. If an employee is killed or injured while at work, his family may also be entitled to compensation. Commercial general liability insurance cover is designed to address the risks of injury from chemicals found in many cleaning supplies, pesticides and other hazardous substances, as well as those caused by poor manufacturing practices.
Small businesses that operate without any help from a third party service may face the prospect of facing expensive litigation if they are found to be at fault in an accident. Commercial general liability business insurance covers liability for accidents on the premises of the business and for negligence. Often, a company’s owner can be found liable if he did not maintain proper safety measures or did not make sure that certain activities were properly operated. If a small business owner is sued for sustaining injury as the result of negligence or other wrongdoings, he may need to pay out of pocket expenses and settlements to cover his own losses.
In order to protect his/her assets, a business owner needs adequate protection from a policy designed to cover personal property. This includes damage to the person’s body that is sustained during an accident or injury, or bodily injury. For example, damages resulting from a slip and fall, an attack by a pet, or a product defect could all be addressed under a policy meant to cover bodily injury. In addition to bodily injury, a general liability policy may also cover damage caused by slander, libel, malicious prosecution, or false arrest, among others. A good insurance policy will provide coverage for all possible sources of damage.