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Before you purchase a Commercial General Liability Insurance policy, you'll want to compare quotes to ensure you get adequate coverage at a competitive price. But when you get the quotes, the information may be overwhelming if you don't know what you're looking at.

Take a deep breath. We'll get you through this. Even if you don't have your quotes in front of you right now, this guide can help you know what to expect.


Proposal Summary of Coverage

This section briefly covers what you’ll find in your quotes. It tells you…

  • Which insurance policies the quotes are for.
  • A short general description of the insurance policies (e.g., the kinds of claims they cover and how they’re described in a contract).
  • The number of quotes.

Beneath this section, you can read the individual quotes.


Total Annual Premium

If you get your quotes from insureon, this is the number in large, orange font and probably the first number you’ll see. The total annual premium is essentially the cost of having a policy for an entire year. In other words, it’s what you will pay to the insurance company to get your General Liability coverage. You can usually choose to pay your premium all at once or in installments throughout the year.


Insurance Company Name

Beneath the annual premium, you’ll find the insurance company that provides the policy. This is the company responsible for paying a claim if you purchase its insurance policy. It’s also the company that receives your premium.

You should see a rating next to the provider's name. This signifies the solvency of the business. An "A" rating clues you in that the company is financially reliable and known for its outstanding service.


Description of Coverage and Limits

Beneath the premium and insurance company name, you should see a more detailed description of the kinds of coverage included in your quote. In your batch of General Liability Insurance quotes, you may find…

  • A standalone General Liability policy.
  • A General Liability policy with added coverages (typically referred to as “riders” or “endorsements”).
  • A Business Owner’s Policy, which bundles General Liability with Property Insurance.

Why all the variations? Your insureon agent hand compiles your quotes based on your business's unique characteristics. The more options you have, the better the chance that you'll find the coverage you need at the lowest available price.

To the right of the annual premium, you’ll see a breakdown of coverage types and their associated limits, typically in the tens of thousands to millions of dollars. These limits are the maximum amount of money the insurance company will pay out when you make a claim:

  • “Per occurrence” is the maximum the company will pay out for a single claim of that type.
  • “Aggregate” is the maximum amount the company will pay out for all claims of that type in a single year.

Make sure to carefully review this section of the quote before you purchase the policy, and ask your agent for help if you have any questions.


Final Notes about Your Quotes

Remember that your quotes are preliminary estimates. Though your quotes are unlikely to change, keep in mind that those prices aren't written in stone. That's why if you see something you like, it's best not to wait too long. Also, keep in mind that you may have to pay taxes on your insurance, depending on your state's laws.

If you have any questions about your quotes, just ask your agent. And now that you know what to expect, you can get your quotes sent right to your inbox by filling out an online insurance application.

General Liability Insurance: Further Reading