General liability insurance for LLCs

General liability insurance coverage is a crucial component of risk management for small businesses, especially limited liability companies (LLCs).

It protects LLCs against the most common risks of running a business. This includes covering your legal costs if a customer trips and suffers a bodily injury at your business, or if you accidentally cause damage to a customer's personal property.

Additionally, general liability insurance covers personal injuries and advertising injuries, such as libel and copyright infringement.

Small business owners often need business liability insurance to fulfill requirements for a lease, loan, or contract. For example, a landlord might ask to see a certificate of insurance when you sign a commercial lease.

General liability coverage safeguards your LLC from many common risks and liability claims, but there are still several areas that need protection.

Depending on your unique business operations, you should consider these additional insurance policies for your LLC to fully protect your business assets:

Workers' compensation insurance is required in most states if your LLC has employees, sometimes including corporate officers and members as well. Workers' comp covers medical expenses for workplace injuries and illnesses, and the lost wages of an injured employee.

Commercial property insurance covers the cost of repairing or replacing your business property if it's lost, stolen, or damaged. This policy can be bundled with general liability in a business owner's policy (BOP), which is typically less expensive than buying these coverages separately.

Commercial auto insurance handles the costs if your LLC's business vehicle is involved in an accident, including medical bills and property damage. Each state has its own requirements for business auto liability insurance.

Professional liability insurance, also known as errors and omissions insurance (E&O) or malpractice insurance, handles the defense costs from client lawsuits over unsatisfactory work, such as missed deadlines, mistakes, and undelivered services.

Cyber insurance, sometimes called cybersecurity insurance, insures against the high costs of data breaches and malicious software attacks. Cyber liability also provides financial coverage for the cost of customer notification, credit monitoring, legal fees, and fines.

Fidelity bonds provide reimbursement to a client if an employee steals from them, including theft by electronic funds transfer. They're sometimes required by client contracts.

As an LLC, your personal assets are protected from business liability. But that doesn't completely safeguard your business from risk - including out of pocket costs from frivolous lawsuits if you aren't properly insured.

Complete Insureon’s easy online application today to get insurance quotes from top-rated U.S. insurance carriers. You can also consult with an insurance agent on your business insurance needs, as well as how to get the most affordable coverage.

Once you compare quotes and find the right types of coverage for your small business, you can begin your policy and receive a certificate of insurance in less than 24 hours.