General liability insurance is defined as insurance protection for third-party property damage or personal / advertising injuries allegedly caused by you or an employee.
Commercial general liability (CGL) insurance provides a financial safety net in case you’re sued for an injury that occurred at your business, for damaging a visitor’s property, or causing an advertising injury, such as slander, copyright violation, or libel.
Your general liability insurance will pay for reasonable costs involved in your legal defense. This includes attorney, court, and expert witness fees. It also covers any financial losses you incur while participating in your defense.
General liability insurance also covers judgments and settlements related to your case, as well as the plaintiff’s medical expenses.
For cases of serious property damage or injuries, settlements and court judgments can easily bankrupt a small business. For this reason, general liability insurance is one of the most common insurance policies.
General liability insurance does not cover:
Learn more about general liability insurance.
You should have no trouble qualifying for general liability insurance, as long as your company:
If you’re a responsible business owner doing reasonably safe work – and you haven’t been sued often in the past – most insurers will be happy to provide coverage.
Almost every small business needs general liability insurance since a large bodily injury or property damage claim can be a serious financial threat.
However, some companies need general liability insurance even more than usual. These include companies that:
Insureon helps small business owners compare commercial insurance quotes from A-rated U.S. carriers with one easy online application. Start an application today to protect your business against claims from third parties.