General Liability Insurance For Small Business - General Liability Insurance (GLI) is sometimes called Commercial Liability Insurance or Commercial General Liability Insurance. This type of liability insurance can help protect your business against claims that cause bodily injury or property damage to others. Without general liability coverage, you will have to pay out of pocket for these claims.
It's a question we hear a lot: "Does my small business need general liability insurance?" Most likely the answer is yes. With general liability insurance, you are protected against the following claims:
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If a customer is injured at your business, this policy can help cover their medical bills.
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Employees sometimes damage customer property while delivering products or services. Your GL policy will help pay for the damage.
General liability insurance policies can help cover malicious prosecution, libel, slander, illegal copying, and invasion of privacy.
If your rental property is damaged by fire, lightning or explosion, your general liability policy can help pay for repairs.
General liability insurance does not cover all injuries or damages in all situations. For example, this policy does not cover medical expenses for injured workers. General liability insurance also does not cover lost wages for injured workers. Instead, you need workers' compensation insurance.
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Did you know that four in 10 small business owners are likely to have a property or general liability claim in the next 10 years?1 Claims range from unexpected events, like theft, to unforeseen accidents, like a customer slipping and is injured. and falls.
We strive to provide our customers with the best coverage at the best possible price. We understand the needs of small business owners in Hartford. General liability quotes vary, but we can give you a quote today so you know how much it will cost. Just remember that because every business is unique, general liability insurance costs are different for everyone. Insurance companies use different factors to determine costs.
For example, costs vary by state because one of the factors an insurer will use is location. Other factors insurers may consider include:
You can save money on general liability insurance by combining it, such as a business owner's policy (BOP). Combines general liability with business property insurance and business income insurance.
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Liability insurance coverage can help protect you from costly general liabilities that can occur in normal business situations, such as:
You may need this coverage if your clients request it. Many clients want to confirm that they have shared responsibility before signing a contract with your company. You can show that you have general liability insurance with a certificate of liability insurance. Get enhanced protection for your business with business auto insurance that covers you, your employees and the vehicles you operate, rent, lease or own.
State laws generally do not require business owners to carry general liability insurance. But it's still a good idea to have liability insurance. If a customer sues your business and you don't have coverage, you could put your business finances and personal assets at risk.
It is important to understand the insurance laws in your state. Work with your local insurance agency or our dedicated small business insurance team to help you choose the right commercial liability insurance.
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Forming a limited liability company (LLC) separates your personal assets from your business. However, you are still exposed to liability claims that can put your business at financial risk. A limited liability insurance policy can help protect your LLC and help cover claims that you cause bodily injury or property damage to others.
A professional liability insurance policy can help protect your business against claims of malpractice or negligence in the professional services provided. This coverage is also known as errors and omissions insurance or E&O insurance.
As one of the largest multinational freight forwarders, we face catastrophic impacts every day. We work with you to minimize the impact of general liability claims on your business.
Our risk engineering team can help keep your employees safe with individual risk management consultations and safety workshops.
Business Liability Insurance Definition
Not all insurance companies are the same. It is important to work with someone you can trust. We have more than 200 years of experience helping small business owners protect their businesses with coverage like general liability insurance.
Whether you're looking for a quote, trying to understand general liability class codes, or help filing a claim, we've got you covered.
To learn more, start a free general liability insurance quote online. We can help you obtain other major business insurance, such as business property insurance and business auto insurance.
When you're ready to get a general liability quote, you'll want to have the right information. This includes:
What Is Public Liability Insurance?
1 The Hartford, "Hartford Reports: More than 40 percent of small businesses will face claims in the next 10 years"
2 Premium amounts offered are based on the monthly premium paid by customers of The Hartford's Small Business for 12-month policies between 1/1/21 and 12/31/21. The premium comes from a number of factors specific to your business and can vary.
Hartford will not be liable for any damages arising from the use of the information provided on this page. Consult your insurance agent/broker or insurance company as this information is educational in nature.
The information contained on this page should not be construed as specific legal, personal, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, determination of coverage will depend on the language of the policy and any potential claim payment will be determined upon investigation of the claim.
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Some coverages vary by state and may not be available to all companies. All Hartford coverages and services described on this page are listed in The Hartford Financial Services Group, Inc. Legal Notice. The company's property and casualty insurance may be offered by one or more of the company's subsidiaries.
Hartford Financial Services Group, Inc., (NYSE: HIG) operates through subsidiaries under The Hartford brand and is headquartered in Hartford, CT. For more information, please read the Hartford Legal Notice. Start your free trial, then sign up for a monthly starter or basic plan for $1 per month and get 3 months.
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When Henry Walker went to Walmart to buy watermelons, he did not expect to end up disabled. But that's exactly what happened: when he got to the watermelon, his leg caught on the pallet, he fell hard and broke his hip. When the case went to trial, they found video evidence showing that Walker was not the first person to tamper with the dais, and the judge awarded him $7.5 million in damages.
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But Walmart doesn't have to pay for these settlements out of pocket. Instead, your general liability insurance is more likely to cover the costs. And while it's unlikely to cause any major damage to your business, even a medium-sized lawsuit can be devastating for small business owners.
General liability insurance is a type of business insurance that covers you for general third-party claims against your business, including bodily injury and property damage. It is also sometimes called commercial liability insurance or commercial general liability insurance.
Despite being "general" in name, general liability insurance provides coverage for claims related to several specific things: a customer injured at your business, an employee damaging your or a customer's property, or damage to your reputation. caused by you. publicity damages such as copyright infringement and other
General liability insurance provides third party coverage, which means that payments go to a third party involved in a claim rather than directly to you. You are considered a "first party" and a "third party" is someone who suffers physical, financial, or reputational harm.
General Liability Exposures Your Small Business Needs To Know
General liability insurance typically covers claims related to advertising injuries at your business, such as customer injuries, employee damage to customer property, reputational damage, and copyright infringement.
General liability insurance covers claims related to physical risks such as bodily injury and third-party property damage. Professional liability insurance covers intangible risks, damages caused by errors and omissions, when your client suffers a financial loss due to poor advice or other irregularities.
No, total liability is not based on income. Instead, it's primarily based on how risky your business is. Other factors that can affect the cost of general liability include how many employees you have, where you are located, how old your business is, and previous insurance claims.
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What's The Difference Between General And Professional Liability Insurance?
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Do you know if your business is properly insured? If not, it could cost you in the long run. Learn how to choose the right insurance and how much coverage you need
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