General Liability Insurance

General Liability Insurance for Small Businesses

Whether you own a retail store, manage an office building or provide services to customers, it’s essential to have some form of general liability insurance. This type of policy can protect you and your business from potential legal liabilities should something go wrong. Understanding the basics of this kind of coverage is essential for small business owners.

Property Damage

This type of general liability insurance can offer protection if your business is named in a lawsuit alleging property damage while providing services or goods to a customer. For example, if a customer trips and falls over an item that was in the care of your business, then any resulting property damage could be covered by this type of policy. 

Bodily Injury

Bodily injury coverage provides protection in cases where a customer is injured as a result of the carelessness or negligence of your business. It’s important to note that this does not include employees who are injured during the course work hours – worker’s compensation insurance covers these types of incidents. 

Products & Completed Operations

This form of general liability insurance will cover you if someone claims they have been hurt due to using one of your products or services. This includes defective products as well as any harm caused while performing operations associated with your product’s completion (for example, installation). 

Medical Payments 

An individual who gets hurt on your premises may be eligible for medical payments up to the policy limit without having to make a formal claim. This coverage will normally cover reasonable medical expenses related to treating any injuries incurred on site or elsewhere due to using one of your products or services. 

Personal Injury Liability 

In some instances, personal injury liabilities not only cover physical injury but also mental distress caused by acts such as slander, libel, false imprisonment or invasion into private affairs. So if for example somebody sues you for defaming them online through blogs or comments on social media platforms, then this part of the policy would provide protection from such allegations.  

Overall, choosing the right amount and type of coverage when it comes to general liability insurance is essential for small businesses looking to protect themselves from potential lawsuits and to ensure financial stability moving forward with their operations.