General liability insurance covers common business risks like customer injury, customer property damage, and advertising injury. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts.
Even though insurance agents are experts in policies and claims, this does not exempt them from risk. Commercial general liability insurance for insurance professionals can help your business cover losses and expenses when property damage or injury occurs. This policy is often required when you sign a commercial lease.
This policy provides liability coverage related to:
Whether you're an insurance agent or a claims adjuster, you may be able to bundle general liability insurance with commercial property insurance in a business owner’s policy. A BOP costs less than purchasing each policy separately. Businesses that are eligible for a BOP usually:
Talk to a licensed Insureon agent who specializes in the insurance agent industry to find out if a BOP fits your business.
Accidents happen, no matter how prepared you are. If a client trips and breaks a wrist at your office, you may have to cover the expenses if you don’t carry insurance agent liability insurance.
General liability insurance typically helps cover:
Note that this policy does not cover employee injuries. For that, you’ll need workers’ compensation insurance.
General liability insurance protects you when customer property is damaged. If an employee drops a client’s laptop, for example, your general liability policy could help pay for its replacement. It could also pay your legal costs if the client sues.
This policy protects your insurance business from off-site incidents, too. For example, if an associate damages computer equipment while working at a client’s office, a lawsuit alleging property damage would be covered by your insurance.
When advertising your insurance company, it’s possible to inadvertently copy a competitor’s slogan or mimic another company’s advertising campaign. Accidental advertising injuries are covered by general liability insurance. That includes:
If you use advertising or promotional materials to draw clients to your business, you’ll want to make sure your insurance includes this protection.
While general liability insurance covers several common insurance agent risks, it does not provide complete protection. Other policies to consider include:
Business owner's policy (BOP): This policy combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.
Errors and omissions insurance (E&O): Also called professional liability insurance, this policy can cover legal fees of lawsuits related to your business decisions and professional advice.
Workers’ compensation insurance: This policy is required in almost every state for insurance businesses that have employees. It can cover medical bills for work-related injuries.
Commercial auto insurance: Insurance businesses that own vehicles need to carry this policy to comply with state laws. It helps cover costs if a vehicle gets into an accident.
Cyber liability insurance: This policy helps insurance businesses pay for costs related to data breaches and cyberattacks. Any small business that handles sensitive information should carry this coverage.
Are you ready to protect your insurance business with general liability insurance? Complete Insureon’s easy online application to compare quotes from top U.S. carriers. Once you find a policy that fits your needs, you can begin coverage in less than 24 hours.